Multiple sources tell CANADALAND that Sun News Network (SNN), the Quebecor-owned cable news channel that launched in 2011, is on the verge of closing.
Couple of weird things. One is this:
As recently as three weeks ago, sources say that SNN management told several employees that negotiations with Zoomer looked promising and that a deal was close. But a dispute over potential severance packages for SNN executives (including Teneycke) who would not continue on with the network in the event of an acquisition has led to an impasse.
If I am reading it correctly, the deal has gone sideways because Teneycke (among others) is demanding a bigger payout. In other words, if his financial demands aren't met, he's threatening to stay.
The second is: who is The Source or sources? Well shit one of them might be Ezra "The Source" Levant himself! He was on the Canadaland podcast today...and suddenly this is news. Did he blab, advertently or inadvertently? (talking on his cell in the john, for example?)
As a last note, I hope they hold up long enough for the CBSC to process my complaint. It would be an end most fitting if these guys' last act as a news network was to run an apology for screwing up.
If the deal goes through Zoomer won't be any better. Znaimer isn't much different than present ownership and may be more dangerous for being smoother. Levant would still be on air for example, possible even moved to a higher profile position.
Let's hope the whole thing collapses.
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