Cancom Welcomes CRTC Approval Of The Star Choice Merger.MISSISSAUGA, Ontario--(BUSINESS WIRE)--July 9, 1999-- Cancom (Canadian Satellite Communications Inc.)(TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :SAT.)(ME:SAT.) is very pleased the Canadian Radio-television and Telecommunications Commission The Canadian Radio-television and Telecommunications Commission (CRTC, in French Conseil de la radiodiffusion et des télécommunications canadiennes) was established in 1968 by the Parliament of Canada to replace the Board of Broadcast Governors. ("CRTC CRTC Canadian Radio-Television & Telecommunications Commission CRTC Combat Readiness Training Center CRTC Cathode Ray Tube Controller CRTC China Railway Telecommunications Center CRTC Cold Region Test Center CRTC Continuously Regenerated Trap Column ") has approved the merger of Cancom and Star Choice Communications Inc. ("Star Choice"), a leading provider of Direct-To-Home (DTH (Direct-To-Home) Typically refers to satellite TV broadcasting directly to a dish antenna on the roof of a house. See DBS. ) satellite television services. This CRTC decision is a major step in finalizing the process involved in the Reorganization and Share Exchange Agreement signed by Cancom and Star Choice on November 11, 1998. Under this Agreement, Star Choice will become a wholly-owned subsidiary of Cancom, and the former shareholders of Star Choice will become shareholders of Cancom. The share exchange transaction has already received all shareholder approvals. Cancom will now move towards closing and expects the transaction will be finalized See finalization. shortly. Duncan McEwan, Cancom's President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. stated: "I am delighted that the CRTC has approved the proposed merger. We are particularly pleased that the Commission was able to deal with our application for approval expeditiously ex·pe·di·tious adj. Acting or done with speed and efficiency. See Synonyms at fast1. ex . This important decision means that we will be able to complete the share exchange in the very near future and begin realizing our goal of competing aggressively as a major satellite services provider" Star Choice Communications Inc. is a leading Canadian provider of DTH services to residences and businesses with well over 200,000 subscribers. Cancom (TSE:SAT)(ME:SAT) is Canada's leading expert in evaluating, selecting, integrating and implementing satellite-based solutions for business. Cancom operates in four main lines of business. Cancom Broadcast Solutions delivers a wide range of digital TV signals and provides video distribution to a number of broadcasters across the continent. Cancom Tracking Solutions provides tracking and messaging for the Canadian trucking industry. Cancom Learning Solutions builds and maintains private satellite interactive distance learning networks and communications for business and governments. Cancom Data Solutions designs, implements and manages multi-protocol, Internet/Intranet-based networks that link hundreds of branch and head offices. |
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