Canada's Cross-ownership rules will hurt media stocks, analysts say

CANADA'S CROSS-OWNERSHIP RULES WILL HURT STOCKS, ANALYSTS SAY
[SOURCE: Financial Post, AUTHOR: Barbara Shecter]
Mid-sized media companies and those hoping to sell shares to the public are likely to take the hardest hits from new regulations unveiled this week by The Canadian Radio-television and Telecommunications Commission that limit media consolidation and cross-ownership of TV, radio and newspapers. Torstar Corp., Corus Entertainment Inc., and privately-held CTVglobemedia, were named as potential victims of the new policy in an informal survey of analysts. Indeed, according to two analysts who did not want to be identified, any possible initial public offering of CTVglobemedia would likely not come with as rich a valuation as it might have achieved a year ago, at the height of the last round of media consolidation.
http://www.financialpost.com/story.html?id=245225