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MONTREAL – The transaction leading to the acquisition of specialty channels Évasion and Zeste by the TVA Group is now complete, announced that a subsidiary of Quebecor Media, on Wednesday.
“Escape and Zest are two prestigious brands that resonate with consumers’ interest for subjects they are passionate about, cooking and travel. So it is with great pleasure that we add these brands to our offering of content for the benefit of our viewers and our advertisers,” said president and chief executive officer of TVA Group and head of content, Quebecor Content, France Lauzière.
“We will use all resources and efforts necessary to maximize the notoriety already significant value of these two channels, and propel their contents with Quebecers,” said Ms. Lauzière, by issuing a press release.
The TVA operates several other specialty channels, LCN, TVA Sports, AddikTV, CASA, MOI & CIE, Taken 2, and Yoopa.
In mid-January, the Council of radio-television and telecommunications commission (CRTC) had given its approval to the transaction valued at $24 million.
In April 2018, TVA had indicated that it had entered into agreements to acquire the companies of the group Serdy Media inc. and Serdy Video inc.
Last spring, the president and chief executive officer of Serdy Media, Sébastien Arsenault, had explained that they had taken the decision to dispose of the chains Escape and Zest because of the difficult environment in which they operate and independent media.
“It is very difficult that I pose today, but in my opinion, essential to sustain the growth of these two chains,” he said.
Launched in 2000, the chain Escape offers programmes dealing with before any travel, tourism and adventure.
For its part, Zest, offers from 2010 emissions, primarily aimed at lovers of gastronomy and cuisine.