GlassBOX Television has received CRTC approval to acquire the digital specialty channel travel + escape from CTV for $10 million.

The two-step transaction will see CTVglobemedia, through a new corporate vehicle called Newco, acquire as part of a corporate reorganization the assets of travel + escape from subsidiary CTV Television.

The second step will see ownership and effective control of Newco shift to GlassBOX.

“As a result of this transaction, effective control of Newco will be exercised by GlassBOX,” the CRTC said, as it outlined the complicated corporate deal.

As it takes control of travel + escape, GlassBOX agreed to a tangible benefits package worth $1 million over seven years, or 10% of the transaction price, to include $850,000 destined for a self-directed GlassBOX Travel Multiscreen Fund.

The CRTC ordered that the $850,000 million fund be directed to indie producers.

Pictured: travel + escape’s Bizarre Foods with Andrew Zimmern.