C.A. Bancorp Inc. (TSX: BKP) announces investment in High Fidelity HDTV Inc.
TORONTO: C.A. Bancorp Inc. (the “Company”) is pleased to announce it has made an investment in Canadian independent broadcaster High Fidelity HDTV Inc. (“High Fidelity”) to support the growth and expansion of High Fidelity’s suite of smart, refreshing and beautiful High Definition (“HD”) television channels.
The four million dollar investment by C.A. Bancorp strengthens High Fidelity’s position as the leading Canadian all-HD broadcaster, according to Ken Murphy, High Fidelity’s CEO.
“We are delighted to have a new financial investor in C.A. Bancorp,” says Murphy. “Their financial strength and financial sector expertise will help us take our suite of four exciting all-HD channels to the next level of service. This is wonderful news for the rapidly growing number of HD households in Canada.”
“We are excited to work with the highly-experienced team at High Fidelity as it continues to grow Canada’s leading full-time 24/7 HDTV broadcaster”, says Mark MacDonald, Managing Director, C.A. Bancorp.” As public demand for greater High Definition content grows, and the cable and satellite providers continue to expand their High Definition offerings, we see a very favourable outlook for High Fidelity’s growth.”
High Fidelity HDTV launched its first two all-HD channels, Oasis HD and Treasure HD, in March of 2006. That was followed by the launch of two more channels, Rush HD and Equator HD, in September of the same year. High Fidelity has eight additional channel licence approvals from the CRTC, two more channel licence applications working their way through the regulatory process, a thriving television production subsidiary and ambitious expansion plans.
High Fidelity HDTV Inc. : High Fidelity was founded in 2003 by Canadian broadcasting veterans Ken Murphy and John Panikkar, who looked hard at the TV industry in Canada and worldwide, and believed that the future belonged to those who could offer smart, refreshing and beautiful all-HD specialty programming. High Fidelity HDTV has formed wide-ranging partnerships with other innovative HDTV producers and broadcasters, chief among them Rainbow Media Holdings, the largest HD content provider and HD broadcaster in the U.S.
C.A. Bancorp Inc.
C.A. Bancorp Inc. is a publicly traded Canadian merchant bank and alternative asset manager that provides investors with access to a range of private equity and other alternative asset class investment opportunities. The Company is focused on investments in small- and middle-capitalization public and private companies, with emphasis on the industrials, real estate, infrastructure and financial services sectors.
Sentry Select Capital Corp.: Sentry Select Capital Corp. is a Canadian wealth management company that manages over $8 billion in gross assets as of June 30, 2007. The company offers a diverse range of investment products including closed-end trusts, mutual funds, principal-protected notes and flow-through limited partnerships, covering a variety of domestic and global mandates. With 29 reporting issuers, Sentry Select is the leading manager and/or advisor to entities listed on the TSX. In addition, Sentry Select manages and/or provides advisory services to 4 reporting issuers listed on the TSX Venture Exchange.
This news release contains forward-looking statements that involve risks and uncertainties. These statements reflect C.A. Bancorp’s, and Sentry Select’s current expectations, but are subject to a number of risks and uncertainties. Due to the many risks and uncertainties, C.A. Bancorp and Sentry Select cannot assure that the forward-looking statements contained in this news release will be realized.