Moses Znaimer, founder of CityTV and MuchMusic, is jumping back into television with an agreement to buy Vision TV, a collection of multicultural and religious channels.
Znaimer’s ZoomerMedia Ltd., along with backing from Fairfax Financial Holdings, is set to acquire Vision TV for $25 million.
“I have a little experience in television and I have a thought or two about these television channels.”
In 2007 Znaimer became executive director of Canada’s Association for the Fifty Plus (formerly the Canadian Association of Retired Persons) and relaunched the organization’s magazine as Zoomer.
“We expect [Vision TV’s] complementary nature to Zoomer’s magazine and online/web holdings will further facilitate the expansion of the Zoomer concept, and will assist CARP significantly in expanding its membership base.”
The deal is subject to approval from the Canadian Radio-television and Telecommunications Commission (CRTC).
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