Air Canada stock hits new high on news of exclusive talks to buy Transat AT

Air Canada stock hits new high on news of exclusive talks to buy Transat AT
MONTREAL — Air Canada’s interest in buying rival Transat AT Inc. for about $520 million got positive feedback from industry watchers and stock traders after the two companies announced Thursday that they’re in exclusive talks to finalize a deal. The two companies say Air Canada — the country’s largest airline — would pay $13 per share for Transat, the Montreal-based owner of Air... Read More

Shaw Communications selling its stake in Corus Entertainment for $548M

Shaw Communications selling its stake in Corus Entertainment for $548M
CALGARY — Shaw Communications Inc. is selling its stake in Corus Entertainment Inc. for $548 million. Under the deal, the cable and telecommunications company will sell 80.63 million class B Corus shares at a price of $6.80 per share through a secondary offering. Corus shares closed at $8.06 on the Toronto Stock Exchange on Tuesday. The sale represents a roughly 38... Read More

Space-tourism dream edges toward reality in New Mexico

Space-tourism dream edges toward reality in New Mexico
SANTA FE, N.M. — British billionaire Richard Branson is taking another concrete step toward offering rides into the close reaches of space for paying passengers. Branson announced Friday that Virgin Galactic will immediately begin shifting operations from California to a spaceport and specialized runway in the New Mexico desert in final preparations for commercial flights. He says Virgin Galactic’s development... Read More

Globe and Mail offers voluntary buyouts in effort to save $10M annually

Globe and Mail offers voluntary buyouts in effort to save $10M annually
TORONTO — The Globe and Mail has offered its employees a voluntary severance program in an effort to cut costs. Globe employees were told Wednesday that the newspaper is looking to cut $10 million annually from its operating budget. A Globe spokeswoman says employees have until May 29 to enrol in the voluntary program and the company will decide in July... Read More

Rogers Media buys Vancouver podcast production company Pacific Content

Rogers Media buys Vancouver podcast production company Pacific Content
TORONTO — Rogers Media is adding to its podcasting business through the acquisition of Vancouver-based Pacific Content. Pacific Content works with companies and advertisers to target audiences. Among its prominent clients for its branded content has been McAfee, the computer security company. McAfee’s Hackable podcast has put out about two dozen half-hour episodes over three seasons. Rogers didn’t disclose what it’s paying... Read More

Travel company Transat AT in talks regarding possible sale of company

Travel company Transat AT in talks regarding possible sale of company
MONTREAL — Transat AT Inc. says it is in preliminary talks regarding the possible sale of the company. The announcement came as the company prepared to hold its annual meeting in Montreal. The travel company says it is in talks with more than one party regarding a potential transaction following expressions of interest it received. Transat says it has formed a... Read More

Streaming service Spotify hits 100 million paid user mark

Streaming service Spotify hits 100 million paid user mark
COPENHAGEN — Music streaming service Spotify said Monday that its paying subscribers have reached 100 million for the first time, up 32% on the year and almost twice the latest figures for Apple Music. The Stockholm-based company called the figure, which was reached during the first three months of 2019, “an important milestone.” The growth was driven, among other things,... Read More