Corus Does The Locomotion
Canadian-based media company Corus Entertainment Inc. has acquired a 50% interest in pay television network Locomotion, an animation channel available in over 7 million homes throughout Latin America and Iberia. Corus announced it purchased the interest in Locomotion from the Claxson Interactive Group, Inc., for a maximum consideration of US$10.5 million and a holdback in the event of certain economic changes that may impact revenue projections. The remaining 50% interest in Locomotion is held by U.S.-based communications giant the Hearst Corporation.