| Formerly | V Media Group (until 2020) |
|---|---|
| Company type | Subsidiary |
| Industry | Media |
| Parent | Remcorp |
| Subsidiaries |
Remstar Media Group is a privately held Canadianmedia firm, owned by the film production and distribution companyRemcorp. It owns the French-language specialty channelsElle Fictions andMax.
In June 2008, Remstar acquired the French-language network TQS, which had been owned byCogeco and CTVglobemedia but enteredbankruptcy protection in late 2007. The network was renamed V the following year. It was later reorganized into a separate entity named V Media Group, which was still majority-owned by Remstar, with a minority share held by a trust controlled by Remstar's owner, Maxime Rémillard.[1]
In December 2013, V Media Group announced plans to purchase MusiquePlus and MusiMax from CTVglobemedia's successorBell Media, which had earlier in the year received approval to purchaseAstral Media, but divested several networks in order to reduce its total market share following the purchase.[2]
The acquisition was approved by the CRTC on September 11, 2014. To fund the purchase, 15% stakes in V Media Group were purchased by each ofthe Caisse,Fonds de solidarité FTQ, andInvestissement Québec, while Rémillard's trust also increased its stake. As a result, Remstar remains the largest single shareholder but no longer holds a majority interest in V Media; however Remstar's owner (Rémillard) still has majority control.[3][4][5] The sale closed on September 16, 2014.[5]
In June 2016, V Media Group announced a partnership withVice Media; the companies will establish a studio to co-develop French-language content, and launch a French-language version of itsViceland specialty channel in 2017.[6][7] However, plans for a French-language channel were dropped; instead V Media Group stated that they will feature Vice content in French on its channels.[8]
In July 2019, V Media Group announced that it would sell its namesake television network, and its web platforms such as its streaming service noovo.ca, to Bell Media, pending CRTC approval. The company will retain its specialty channels.[9]
On April 3, 2020, the sale was approved by the CRTC.[10] The sale was later closed on May 15, 2020.[11]
On May 20, 2020, V Media Group was renamed as Remstar Media Group.[12]
Following the purchase of MusiquePlus and MusiMax, the shareholders and voting interests of Remstar Media Group are now as follows:[4]
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