Remstar Media Group is a privately held Canadian
media
Media may refer to:
Communication
* Means of communication, tools and channels used to deliver information or data
** Advertising media, various media, content, buying and placement for advertising
** Interactive media, media that is inter ...
firm, owned by the film production and distribution company
Remcorp
Remcorp is a Canadian private investment firm founded by businessman Maxime Rémillard. Its head offices are located in Montreal, Quebec.
History
The company was founded in 1997.
At first involved in the entertainment industry, Remcorp now m ...
. It owns the French-language specialty channels
Elle Fictions and
Max
Max or MAX may refer to:
Animals
* Max (American dog) (1983–2013), at one time purported to be the world's oldest living dog
* Max (British dog), the first pet dog to win the PDSA Order of Merit (animal equivalent of the OBE)
* Max (gorilla) ...
.
History
In June 2008, Remstar acquired the French-language network TQS, which had been owned by
Cogeco and CTVglobemedia but entered
bankruptcy protection
Bankruptcy is a legal process through which people or other entities who cannot repay debts to creditors may seek relief from some or all of their debts. In most jurisdictions, bankruptcy is imposed by a court order, often initiated by the deb ...
in late 2007. The network was renamed V the following year. It was later reorganized into a separate entity named V Media Group, which was still majority-owned by Remstar, with a minority share held by a trust controlled by Remstar's owner, Maxime Rémillard.
In December 2013, V Media Group announced plans to purchase MusiquePlus and MusiMax from CTVglobemedia's successor
Bell Media
Bell Media Inc. (Canadian French, French: ) is a Canadian media conglomerate that is the mass media subsidiary of BCE Inc. (also known as Bell Canada Enterprises, the owner of telecommunications company Bell Canada). Its operations include nati ...
, which had earlier in the year received approval to purchase
Astral Media
Astral Media Inc. was a Canadian media conglomerate. It was Canada's largest radio broadcaster, with 84 radio stations in eight provinces. Astral was also a major player in premium and specialty television in Canada, with 23 specialty channel ...
, but divested several networks in order to reduce its total market share following the purchase.
The acquisition was approved by the CRTC on September 11, 2014. To fund the purchase, 15% stakes in V Media Group were purchased by each of
the Caisse,
Fonds de solidarité FTQ, and
Investissement Québec, while Rémillard's trust also increased its stake. As a result, Remstar remains the largest single shareholder but no longer holds a majority interest in V Media; however Remstar's owner (Rémillard) still has majority control.
The sale closed on September 16, 2014.
In June 2016, V Media Group announced a partnership with
Vice Media
Vice Media Group LLC is a Canadian-American digital media and broadcasting company. Vice Media encompasses four main business areas: Vice Studios Group (film and TV production); Vice TV (a joint venture with A&E Networks, also known as Vicelan ...
; the companies will establish a studio to co-develop French-language content, and launch a French-language version of its
Viceland
Viceland (stylized in all caps; also known as Vice TV in the United States) is a brand used for television channels owned and programmed by Vice Media. The brand launched on February 29, 2016, with two cable channels in North America. The Vice ...
specialty channel in 2017.
However, plans for a French-language channel were dropped; instead V Media Group stated that they will feature Vice content in French on its channels.
In July 2019, V Media Group announced that it would sell its namesake television network, and its web platforms such as its streaming service noovo.ca, to Bell Media, pending CRTC approval. The company will retain its specialty channels.
On April 3, 2020, the sale was approved by the CRTC. The sale was later closed on May 15, 2020.
On May 20, 2020, V Media Group was renamed as Remstar Media Group.
Current ownership structure
Following the purchase of MusiquePlus and MusiMax, the shareholders and voting interests of Remstar Media Group are now as follows:
* Remstar Broadcasting (wholly owned by Maxime Rémillard): 45.14% (combination of common and preferred shares)
* Fiducie Seismikmax (trust controlled by Maxime Rémillard): 9.86% (common shares)
*
Caisse de dépôt et placement du Québec: 15% (preferred shares)
*
Fonds de solidarité FTQ: 15% (preferred shares)
*
Investissement Québec: 15% (preferred shares)
References
External links
Remstar Media Group corporate site
Companies based in Montreal
Mass media companies established in 2008
Television broadcasting companies of Canada
2008 establishments in Quebec
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