Pineau named at CBC

CBC has named Alain Pineau vice-president, planning and regulatory affairs, effective Aug. 8. Pineau’s responsibilities will include strategic planning, regulatory affairs, research and resource planning.

Pineau, who joined the cbc in 1971 as a radio journalist in Montreal, has been associate vice-president of regional broadcasting operations since 1992. He replaces Sheridan Scott who resigned earlier this month and is currently a vice-president of Bell Canada.

Atlantis stock issue

Pending regulatory approval, Atlantis Communications will sell 1.25 million stock issues at $12.75 each to ScotiaMcLeod, Gordon Capital Corporation and RBC Dominion Securities in order to raise $16 million. The money will go toward paying off the debt Atlantis incurred with its purchase of 40.5% of specialty channel YTV (of which, 12% will be bought by CUC Broadcasting and Rogers Programming Services if the CRTC gives the nod). The deal is set to close Aug. 9 and has a two-year term.

Each warrant converts into one subordinate voting share and one-half of a subordinate voting share purchase warrant.

The Interpublic Group of Companies is buying $3.2 million in special warrants in order to maintain its 19.99% interest in Atlantis.