The TVA Group announced Thursday it is selling its half-interest in the Mystery TV specialty channel and 51-per-cent interest in The Cave specialty channel to Shaw Media, which includes the former Canwest television business.
Financial terms of the transaction with the media division of Shaw Communications (TSX:SJR.B) were not disclosed.
A licence transfer request, which is subject to approval by the Canadian Radio-television and Telecommunications Commission, was submitted earlier this week, TVA said in a release.
Pending CRTC approval, the proposed transaction could be finalized in the spring of 2012.
TVA Group, a subsidiary of Quebecor Media Inc. , is an integrated communications company.
It creates, broadcasts and distributes audiovisual products, publishes several magazines and is North America's leading French-language magazine publisher and broadcaster of entertainment, news and public affairs TV programming.