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Rogers to Purchase Olympic Torch Building for Citytv and OMNI Television in Toronto
Oct 22, 2007
TORONTO, Oct. 22 /CNW/ - Rogers Communications has entered into a binding agreement to acquire 35 Dundas Street East, currently known as The Olympic Torch building to house Citytv and OMNI Television in Toronto. The acquisition is subject to certain important conditions being fulfilled. The closing schedule is currently planned for mid November. "We think this building portrays the local, urban and diverse character of Citytv and OMNI Television," said Tony Viner, President and CEO, Rogers Media Inc. "We were determined to find a location that would maintain the stations' presence in the local fabric of the city." Rogers Communications is a diversified Canadian communications and media company. We are engaged in wireless voice and data communications services through Wireless, Canada's largest wireless provider and the operator of the country's only Global System for Mobile Communications ("GSM") based network. Through Cable and Telecom we are one of Canada's largest providers of cable television, cable telephony and high-speed Internet access, and are also a national, full-service, facilities-based telecommunications alternative to the traditional telephone companies. Through Media, we are engaged in radio and television broadcasting, televised shopping, magazines and trade publications, and sports entertainment. We are publicly traded on the Toronto Stock Exchange ("TSX") (RCI.A and RCI.B), and on the New York Stock Exchange ("NYSE") (RCI). For further information about the Rogers group of companies, please visit www.rogers.com.