Wow Unlimited Media Inc WOWMF

WOW Receives CRTC Approval to Revoke Broadcasting License

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TORONTO and VANCOUVER, British Columbia, Feb. 09, 2021 (GLOBE NEWSWIRE) -- WOW! Unlimited Media Inc. (“WOW!” or the “Company”) ( TSXV: WOW; OTCQX: WOWMF) announces that the Canadian Radio-television and Telecommunications Commission (CRTC) has approved an application from the Company’s WOW! Unlimited Networks to revoke the broadcasting license for the national, English-language discretionary service known as Comedy Gold. This revocation nullifies the requirement for WOW! Unlimited Networks to pay $687,000 of tangible benefits stemming from the acquisition of Comedy Gold from Bell Media Inc.

In its decision, the CRTC noted that WOW! had not launched the proposed service and had already written off the value of the broadcasting asset in 2019. Further, the Company had requested relief from the requirement to pay the full amount of the tangible benefits imposed in Broadcasting Decision 2018-230.