Astral Media Inc. and Corus Ent. Inc. announced today (July 13, 2006) they would acquire the remaining 20% of the TELETOON network from the shareholders of The Cookie Jar Group.
Subject to the approval of the Canadian Radio-television and Telecommunications Commission (CRTC), this transaction will give Astral Media and Corus Ent. each an additional 10% ownership of TELETOON, bringing their individual ownership to 50% each. The price for this acquisition is approximately CDN $96 million.