Vancouver: As Playback went to press, Shaw Communications and CanWest Global were to sign off on their long-awaited plan to divide WIC Western International Communications on Nov. 1 – almost 18 months after they announced that they would dissolve the Vancouver-based broadcaster.

Earlier, the $950-million deal was run off the rails because it exposed the purchasers to unacceptable tax bills. That and other ‘commercial issues’ such as working capital adjustments, due diligence and equity entanglements have been resolved, says John Cassaday, president and ceo of Corus Entertainment, a Shaw spin-off and a late-coming, third participant in the restructuring.

‘We’re delighted,’ he says. ‘It was a long time in coming. It wasn’t easy [negotiating], but it was not overly acrimonious.’ He claims the deal was never really in danger of falling apart.

If the purchasers hold true to their promise of a final deal Nov. 1, then they will file to the crtc new applications for the wic assets by Dec. 1. If that schedule is met, the final hearing will take place in April 2000, with a final ruling some time later in the year.

(Originally, the crtc had asked the various parties to resolve their deal for a hearing scheduled for Oct. 26. Last month, however, the regulator granted an extension of that hearing date to Dec. 6 on news that a deal had finally been reached. With new applications filed by Dec. 1, the Dec. 6 hearing will be cancelled in favor of April’s final review.)

The new division of assets looks very similar to the original plan 18 months ago, except for the addition of the recent Shaw spin-off Corus. wic has also been cleaning house by cutting jobs, consolidating offices and selling off smaller assets such as WIC Connexus.

Winnipeg-based CanWest will get nine new television stations, which will finally give CanWest a presence in Alberta and the opportunity to form a third national Canadian network (excluding Newfoundland). CanWest will also pick up wic’s interest in robtv and other properties.

Calgary-based Shaw, meanwhile, will acquire wic’s 54% interest in Canadian Satellite Communications, otherwise known as Cancom.

Newly formed Corus will collect wic’s 12 radio stations and interests in Family Channel, Teletoon, Superchannel and MovieMax!.

The allocation of assets will create duplication, even triplication, of television licences in single markets for CanWest, which already owns stations in b.c., Ontario and Quebec.

Vancouver, specifically, will be vexatious for the commission since CanWest will own Global Vancouver, market leader bctv and Victoria station chek.

wic continually ignored requests from the crtc to sell off either bctv or chek in order to comply with its cap of one station per market per broadcaster. The commission will balk, especially, at one broadcaster owning three licences in the same market, which will lead to a transformation of the broadcasting market in Vancouver.

Tom Strike, executive vp at CanWest, says no decisions have yet been made regarding the sale of Vancouver licences.

However, Playback’s early analysis of the Vancouver market suggests that CanWest would likely hang on to Global Vancouver and sell bctv to ctv and chek to Craig Broadcasting. ctv-owned vtv, a better fit with the Citytv ethos, would likely go to chum.

Complicating the mix, however, is the latest race for a television licence in the Vancouver/Victoria market. CanWest recently pulled out of that race, while chum, Craig, Rogers and religious broadcaster Trinity have filed formal applications.

Along with an okay from the crtc, the final wic deal is also subject to the approval of Revenue Canada, Industry Canada’s Competition Bureau and other regulators.

If Shaw, Corus and CanWest are able to fulfill their new timetable, they will finally end the protracted and bitter battle waged over wic for the past two years.