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Sunday, July 19, 2009

Business News Network

(BNN) is a Canadian English language cable television specialty channel, which airs business news and analysis. The Downtown Toronto-based station is owned by CTV Television Inc., a division of CTVglobemedia. Its day-to-day operations are run by CTV News.

he network was licensed in 1996 to a joint venture of Thomson Corporation (50%), WIC (25%), and Cancom (25%). It began broadcasting on September 1, 1999 under the name Report on Business Television (although using the abbreviation ROBTv), borrowing the name from The Globe and Mail's financial section "Report on Business".

In 2000, CanWest Global acquired WIC and its interest in ROBTv. As part of the agreement transferring WIC's interests in Cancom to Shaw Communications, CanWest acquired Cancom's share of the channel as well.

That same year, the two partners became in conflict with each other: CanWest acquired the Southam newspaper chain, including the National Post, the Globe's chief rival. Around the same time, Thomson transferred the Globe and its shares of ROBTv to Bell Globemedia, a newly formed media company which also included CTV, in which Thomson initially held a 20% interest. Following threats of legal action on both sides, CanWest agreed to sell its 50% to BGM, in exchange for Bell ExpressVu agreeing to carry a new CanWest-owned digital business news channel, "Financial Post Television".[1] The latter channel never materialized.

BGM assumed full control of ROBTv in late 2001. Shortly thereafter, the channel was given a new logo and began to use only the full name of Report on Business Television, dropping "ROBTv".

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