Media Beat: July 30, 2020
By David Farrell
The $60-million bid, submitted through Bitove and Rivett’s company NordStar Capital, got the thumbs-up from Superior Court Justice Cory Gilmore following a brief “fairness hearing” last Thursday.
“I find that the arrangement is fair and reasonable and should be approved by this court,” said Gilmore in her decision released via email late Monday night.
Gilmore rejected arguments from competing bidder Canadian Modern Media Holdings that Torstar’s board had stopped negotiating with CMMH after receiving its first bid, which was subsequently topped by NordStar’s final offer of 74 cents per share. – Josh Rubin, The Star
Two groups have been battling over the future of Torstar Corp., the owner of the Toronto Star. One seems to have reigned supreme in the courts after Ontario’s Superior Court Justice Cory Gilmore ruled in support of a bid by private equity firm NordStar Capital, which is favoured by those in control of the paper. But, as Yogi Berra noted, it’s not over until it’s over, given that the other bidder, Canadian Modern Media Holdings, is going to appeal the decision. So, what’s the big deal? What’s at stake? – Charles Pascal, The Globe and Mail
Dentons communications law and regulatory partner Monica Song has succeeded Peter Grant, following the latter’s retirement in April.
The chair of Dentons Canada’s communications law practice and head of its federal regulatory group in Ottawa, Monica Song, has been elected as the new broadcasting arbitrator following a unanimous vote by the registered political parties in the House of Commons of Canada.
The broadcasting arbitrator oversees the allocation of free and paid-for broadcasting time to registered political parties, as well as formulating and disseminating guidance and hearing disputes.
Song succeeds Peter Grant, past chair of Toronto-headquartered McCarthy Tétrault’s technology, communications and intellectual property (IP) practice, who served in the role from 1993 until his retirement in April. – Media release
Each year since 1953, the ONA honours the best journalism produced by reporters, photographers, videographers, graphic artists and editors at three dozen newspapers. The awards, originally planned for the spring but delayed due to the pandemic, were unveiled virtually on Friday.
The period between 4/1 and 6/30 is Q2 on the calendar, but it represents three months of business not as usual. Entertainment companies are announcing their results this week and next for the period greatly affected by COVID-19-related lockdowns. While we wait to see how companies fared, here’s a look at how stock prices have—perhaps surprisingly—risen during the period… – Hits Daily Double
…Shifting from exclusively utilizing social media to a radio/TV mix, has noteworthy implications: The reach footprint of the campaign almost doubles. Gross impressions nearly triple and CPMs are cut by 60%. All with the same $1M ad budget. – Radio Ink
WE flatly denies having become cozy with Beijing authorities, or that China’s abysmal human-rights record calls into question its involvement in the country. – Tom Blackwell, Postmedia
When the puck drops Tuesday for exhibition games and on Saturday for the official start of play, it’ll usher in this strange new era of bubble hockey that’s about to become our new normal – for now, anyway. – Emily Sadler, Sportsnet
In a controversial move intended to promote the postponed Olympic Games, originally planned to take place in Tokyo this summer, the athletic organization tweeted a promotional video that included footage from Leni Riefenstahl's Nazi propaganda movie Olympia documenting the 1936 Berlin Olympics. The video also included film of other past Olympics, including the 1920 Antwerpen, the 1928 Amsterdam and the 1932 Los Angeles games. Following internet outrage, the tweet was deleted. – Daniel Nisinman, The Jerusalem Post
eMarketer: Global Ad spend
Note: Includes digital (desktop/laptop, mobile and other internet-connected devices), directories, magazines, newspapers, out-of-home, radio and TV. Excludes Hong Kong. Source: eMarketer, June 2020
At the beginning of March, there were 50 titles from major Hollywood studios that were dated for release in 2020. As of Friday morning, it was down to 19. We can only expect that number to shrink as studios take a hard look at the reality on the ground and decide on the few strategies available to them. – Barry Hertz, The Globe & Mail (subscription)
”… No technology, and no individual, will ever be enough on their own to curtail for long the abuses of our weary giants, with their politics of exclusion and protocols of violence. This is the part of the story that matters: that what begins with the individual persists in the communal.” – Edward Snowden, Wired