The president of Teletoon Canada Inc. announced Monday that he will retire in January 2014, days after the CRTC approved Corus Entertainment‘s purchase of the remaining 50% of the channel it did not already own.

Len Cochrane, a founding board member of Teletoon, became the company’s president in 2001. According to a statement, he will leave Teletoon in mid-to-late January 2014.

“It has been an honour to be at the helm of an extraordinary organization and work alongside Teletoon’s management team and employees, as well as the Astral and Corus leadership to build Teletoon Canada from just an idea in the early 1990s to a successful company that has established itself as the hub for animation in Canada with five national networks,” said Cochrane said in a release.

“As we enter a new era in broadcasting, I am confident that Teletoon Canada will be in a stronger position to build on its success and flourish under Corus Entertainment.”

The Corus takeover of  Teletoon from Bell Media came at a cost of $249 million. The deal includes licences for Teletoon, Teletoon Retro and Cartoon Network Canada.

Last week, the CRTC also approved the Corus purchase of Historia and Séries+ for $136.6 million