TSN-ESPN GROUP BACK IN THE PICTURE FOR LABATT'S TV ASSETS
Published July 14, 1995
"After playing the field for better offers," Labatt and its buyer-to-be Interbrew S.A. of Belgium "is poised" to sell The Sports Network and Labatt's other broadcast properties to a group headed by TSN management, according to sources cited by today's TORONTO SUN. Others in the group include ESPN, Stephen Bronfman and Jeremy Reitman. Other bidders include Alliance Communications, Baton Broadcasting and CanWest Global Communications. Sources say the TSN group "did not sweeten its offer" -- said to have been C$600M -- but that it wasn't matched by the other bidders (Rob Longley, TORONTO SUN, 7/14). Polar Communications, a radio syndication company, has warned potential buyers of its C$3M suit against TSN for "misappropriation" of Polar's radio network (William Houston, GLOBE & MAIL, 7/14).