(CelebrityAccess MediaWire) — MTV Networks International will cease to broadcast its MTV and MTV2 channels in Canada starting June 30, following an acquisition of Canadian broadcast partner Craig Media Inc. by Toronto-based media company CHUM Ltd.
The music network is exercising its right to terminate its agreement with Craig Media Inc. after a third party bought the company.
CHUM Ltd. Currently owns every music television channel in Canada, except for Country Music Television.
Rob Hooper, a spokesman for MTV International, told the Globe and Mail that the station remains committed to Canadian audiences and will continue its presence in the country through syndicated shows like “Punk’d,” “Newlyweds,” and “The Osbournes,” which air on several Canadian networks.
Hooper assured the paper that MTV has other long-term ambitions in the Canadian market “beyond syndication,” but was not at liberty to discuss them. It is possible that the network will return to broadcast in Canada on its own or with another partner.
As a result of MTV pulling its channels, CHUM will be required to pay MTV the remaining license fee of approximately $10 million. MTV will no longer have the option to acquire an equity interest in the channels. –by CelebrityAccess Staff Writers