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Shaw Communications is buying two specialty TV channels from TVA Group.


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.

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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.

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