CRTC approves SCN buyout
Canada's broadcast regulator has approved Ontario-based Bluepoint Investments' buyout of Saskatchewan Communications Network.
Bluepoint paid $350,000 for SCN's assets in June, and an additional $350,000 to keep SCN on the air while the application to the Canadian Radio-telecommunications Commission was being processed.
In March, the Saskatchewan government announced it was cutting funding to SCN and closing its operations, with the exception of the station's distance learning services, which were transferred to SaskTel in June.
Bluepoint has promised to maintain a Saskatchewan focus in its programming. The company earlier pledged $2 million annually for programs filmed in the province.
Twelve companies bid for SCN. Bluepoint was the only firm that didn't ask for financial assistance from the Saskatchewan government.