BGM deal complete

Following approval from the CRTC and the federal Competition Bureau, Bell Globemedia has completed its proposed ownership shuffle, in which BCE has dropped its stake in the media conglomerate from 68.5% to 15% (20% was originally expected), with the difference going to the Woodbridge Company (40%) and to newcomers Torstar Corporation (20%) and the Ontario Teachers’ Pension Plan (25%), which picked up the additional equity.

BGM also named its new board of directors, installing Woodbridge president W. Geoffrey Beattie as chairman, with Ivan Fecan as president and CEO.

BGM is also moving forward on its purchase of CHUM, and on Sept. 12 announced it had completed its bid for the broadcast giant in keeping with its recently extended deadline. The $1.4-billion buyout still requires regulator approval, however, which is not expected until at least next year.

Another Imax suit

The legal woes at Imax got worse on Sept. 6 with the filing of another class-action lawsuit alleging that the large-format filmmaker misrepresented its finances during its recent, failed search for a buyer. The suit, filed jointly by the Ontario law firms Siskinds LLP and Sutts Strosberg LLP, joins at least four similar suits put forth last month by investors in the U.S.

The suits were originally to be filed separately with Siskinds seeking $500 million in damages and $100 million in punitive damages, alleging that Imax misrepresented its 2005 earnings by including revenue from theaters that had not yet opened, leading to an artificially inflated stock price.

Doodlebops on Billboard chart

After two weeks in stores, the latest CD by preschooler TV sensations The Doodlebops has placed on Billboard’s top 10 Children’s Chart, ranking number nine earlier this month with Rock and Bop with the Doodlebops.

The candy-colored trio – a creation of Cookie Jar Entertainment seen on CBC and the Disney Channel – has sold more than 10,000 units since coming out on Aug. 1, and is expected to become a hotter item when the band launches its 75-plus-city tour of the U.S. on Sept. 30.

The brand continues to provide ‘exciting programs and a host of consumer products,’ says Cookie Jar CEO Michael Hirsh.

Celebrating Canuck legends

Starting Sept. 15, CHUM Television stations will begin airing a series of 50 vignettes celebrating Canadian stars of the silver screen. Narrated by Colm Feore, the pieces cover Canuck luminaries from early producer Mack Sennett and Florence Lawrence, the first movie star, to modern directors Denys Arcand and Zacharias Kunuk.

CHUM and NBC Universal each contributed $500,000 towards the not-for-profit project, with the profiles being produced by CHUM for the Historica Foundation of Canada. Mitchell Gabourie directed and Bruce Yaccato wrote, while eminent broadcaster Patrick Watson served as creative director.

The vignettes series, under the banner Screen Legends, launched with a companion book on Sept. 8 at the CHUM Building in Toronto, with two of the 50 legends – director Norman Jewison and actor Michael Sarrazin – in attendance.