Blue Ant Media Adds More Digital Video Content With Acquisition Of High Fidelity HDTV

With a new influx of cash in the bank, Blue Ant Media went shopping, they announced the acquisition of High Fidelity HDTV which operates four premium high definition channels – Oasis HD, eqhd, radX and HIFI HD. The transaction is pending CRTC approval. The Company will initially purchase 29.9% of shares in High Fidelity HDTV, with the remaining 70.1% closing subject to CRTC approval.

“We believe it’s a great time to establish and grow a new kind of media company in Canada and our investments in High Fidelity and GlassBOX provide a robust and complementary offering for audiences,” said Michael MacMillan, CEO, Blue Ant Media. “We are pleased Torstar Corporation sees the opportunity with our company. Their participation along with Providence will further boost the support of our properties.”

“GlassBOX looks forward to joining with High Fidelity under the Blue Ant umbrella,” said Raja Khanna, CEO, GlassBOX Television. “The combined business will provide increased opportunities to engage audiences with great content on all platforms.”

More signs that online video is going to be even bigger in 2012, but will it make a strong dent on traditional TV?