ZoomerMedia has completed its acquisitions of faith network Vision TV,
MZ Media Inc. and its radio stations and commercial property to house
the new combined company, as well as a $17.6 million private placement
with Fairfax Financial Holdings Ltd.
Moses Znaimer, President and CEO of ZoomerMedia Ltd., now controls 66.27% of the outstanding common shares of Zoomer, as well as 65.98% of oustanding Class A Preference shares. Fairfax now owns 17.67% of common shares and 34.02% of Class A shares.
Broadcaster Magazine reports:
“Said Moses Znaimer, President and CEO of ZoomerMedia Limited, “The VisionTV group of channels deliver unique and original programming to the millions of Canadians interested in spirituality, wellness and personal growth. Joining the ZoomerMedia family of radio, magazine and web properties devoted to the 45plus will ensure that they are able to continue fulfilling this unique mission. It will create new benefits and synergies, and will position the channels to prevail in the face of technological and regulatory change.”
“Said Bill Roberts, President and CEO of VisionTV, “Viewers 45 plus represent VisionTV’s core audience, making it a natural complement to ZoomerMedia’s existing media properties and opening up new opportunities for cross-platform promotion. In addition, ZoomerMedia and VisionTV share a strong commitment to diversity and high-quality Canadian content. This transaction creates an important new independent voice in Canadian broadcasting. There are almost none left.”
“Said George Grant, President and CEO of MZ Media Inc., “Just a short time ago, we were only radio. Now, we’re a united and unique multi-platform organization that can offer advertisers comprehensive national marketing programs for the 45plus. If you want to grow your business, I recommend taking a closer look at reaching this demographic that has the wealth, and the time to spend it.” ”
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