OWNERSHIP OF CANADA'S TSN REPORTEDLY TO STAY IN THE FAMILY
The Sports Network, the principal media asset of Labatt
Communications Inc. (LCI), will be sold today to a group that is
led by TSN Founder & CEO Gordon Craig and other LCI executives,
according to Rob Longley in this morning's TORONTO SUN. Also in
the group, which is expected to pay C$630M for TSN and LCI's
other broadcast holdings: ESPN and Montreal financiers Charles
Bronfman and Jeremy Reitman (TORONTO SUN, 6/19). John McCaw, who
holds a 60% interest in Northwest Entertainment Group (NEG),
owner of the Canucks and Grizzlies, pulled out of the TSN-
management group, but NEG Chair Arthur Griffiths said the company
still wishes to enter the cable business (CP/TORONTO STAR, 6/19).
Toronto-based Alliance Communications and TCI's Liberty Media
have readied their own bid, but "are waiting to see the outcome"
of the TSN management bid. In other news, sources said Alliance
is in talks to sell a stake of itself to Turner Broadcasting.
One source described the two happenings as "totally separate"
(Gayle MacDonald, FINANCIAL POST, 6/17).