The temptation must be too great to ignore.

Within hours of the CRTC ruling in April 2002 to award a licence to Craig Media for an over-the-air station in Toronto, CHUM executives were on the horn blasting the decision, telling reporters that it would cost CHUM an estimated $12 million in ad revenues, not to mention the additional drag on income due to the loss of U.S. programming and the bidding-up of U.S. rights.

Meanwhile, there was Torstar Corp., the bridesmaid, with a rejected bid that called for 85% Cancon all day and night: plenty of local and regional programming, commissioned docs, dramas and newsmagazine shows and, significantly, next to no U.S. acquired product.

Now, thanks to the hubris of either the CRTC or Craig Media, depending on your perspective, the stage is set for CHUM to direct its own destiny.

On April 12, CHUM announced that it has signed a deal to purchase all shares of Craig Media for $265 million, meaning CHUM will own, among Craig’s other broadcast properties, the contentious Toronto 1. But because CHUM is already established in Southern Ontario with Citytv in Toronto and the NewVR in Barrie, Toronto 1 must be sold to a third party.

Three years ago CHUM put a $200-million bid in to acquire Craig’s assets in Alberta and Manitoba. It’s logical to assume CHUM would be looking to offload T1 for $65 million, but somewhere below $50 million may be more realistic. Any candidate will have to come up with a plan to quickly stem T1’s hemorrhaging, which some reports peg at $1 million a week. Potential bidders include Alliance Atlantis Communications, Quebecor and Torstar.

It says here that CHUM president and CEO Jay Switzer favors Torstar. All other bidders are going to have to either come up with a plan that does not compete directly with CHUM for U.S. shows or pay a premium to offset ad revenue declines and the inflated prices caused when they compete for U.S. shows.

Alliance, for example, proposed a lineup in its licence bid in 2002 not unlike Craig’s, including 50% non-Canadian programming in primetime.

For his part, Switzer denies such criteria to be a factor.

‘That’s not a direct goal. We will have to find a purchaser who can deal with this cost problem [at Toronto 1],’ Switzer says.

But then Switzer goes on to say the following: ‘We think there are probably different models that we can help shape for a new purchaser so that they are not facing a very tough financial challenge. In the current model, which is to chase Global, chase CTV, chase us; get into NFL Football and movies, [Craig] ended up in a very difficult situation.

‘We think it can be a profitable business. It can be vibrant, and have a meaningful and relevant connection with Torontonians. But it might be a smaller business. It doesn’t necessarily mean chasing the same brass ring that the Craigs have tried to do here.

‘So there are potential purchasers in the marketplace that may have other media interests; that may have strategic reasons why they may want to get involved in television and they may have other priorities than playing American movies and NFL Football.’

My money says Switzer can only be talking about Torstar. Then again, I bet on the Dallas Stars to win the Stanley Cup.