Moses Znaimer is at it again, moving to buy VisionTV and its sister channels from the multi-faith broadcaster.

The deal announced Monday will see VisionTV, One: The Body Mind and Spirit Channel, The Christian Channel and the Joytv stations in Vancouver and Winnipeg purchased by Znaimer’s ZoomerMedia. The sale is subject to approval by the CRTC, shareholders and the TSX Venture Exchange, and expected to close in spring of 2010.

‘The acquisitions will enrich Zoomer’s media assets to include radio and television broadcasting, as well as video production,’ said Znaimer in a release. ‘We expect their complementary nature to Zoomer’s magazine and online/web holdings will further facilitate the expansion of the Zoomer concept.’

The former CHUM exec’s recent media ventures have focused on the aging baby boomer market, billed by Znaimer as ‘zoomers.’

Fairfax Financial Holdings has agreed to invest in the deal by subscribing for 176 million common shares of Zoomer at $0.10 per share — a deal that will see Fairfax owning 28% of the total common Zoomer shares at the time of closing, and producing $17.6 million, which will be used to finance the acquisition of VisionTV assets. The deal is conditional upon Zoomer’s acquisition of several Znaimer-owned media and real estate assets.

Znaimer assets to be sold to Fairfax include MZMedia and its five radio stations, MZTV Production and Distribution, Zoomer Management, the ideaCity conference, and a downtown Toronto office building which sits on 2.6 acres of commercial property.

From Media in Canada