Torstar, best known as the publishers of the Toronto Star, announced that it has acquired a 25 per cent stake in Blue Ant Media Inc., a privately held television broadcaster led by TV industry veteran Michael MacMillan.
Blue Ant also has a controlling interest in GlassBox Television, which operates specialty television channels such as Travel+Escape, Bite TV and AUX TV and a minority interest in Quarto Communications, publisher of Cottage Life, Outdoor Canada, Explore and Canadian Home Workshop magazines.
In addition, Blue Ant also holds a 29.9 per cent interest in High Fidelity and is expected to acquire the rest later year. High Fidelity owns and operates four premium high-definition channels, Oasis HD, HIFI HD, eqhd, and radX.
Torstar's investment in Blue Ant will be about $22.7 million.
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