St. Joseph Diversifies: Invests in Religious Broadcasting Company
Press release from the issuing company
CONCORD, ON, March 27 - St. Joseph Printing Limited today announced its investment in Canbo Broadcasting. Canbo owns and operates Inner Peace Television Network (IPTN); a specialty television service dedicated to providing subscribers with exclusive, high quality single faith programming in seven languages. This programming will be provided primarily from Canbo's exclusive content agreement with the Vatican. In addition to religious content, the service will offer a certain amount of programming dealing with social and humanitarian issues. Canbo recently received CRTC approval for this television service, which will be the first single faith program available in Canada.
"We truly believe that there will be strong demand for this niche programming, which is not currently being offered in the Canadian marketplace. IPTN will deliver meaningful, entertaining and educational religious programming to a committed and loyal audience. We will offer a broad range of content including live broadcasts from the Vatican and other locations, enabling subscribers to enjoy a real-life experience from the comfort of their homes." says Frank Gagliano, Vice-Chairman of St. Joseph Corporation and CEO of Canbo and Inner Peace Television Network.
St. Joseph Printing will acquire controlling interest of Canbo and will provide financial support during the start-up phase of this business. The completion of the investment by St. Joseph Printing Limited in Canbo is subject to the consent of the Canadian Radio-Television and Telecommunications Commission ("CRTC").
"We are very excited about this investment which fits our long-term growth plans," noted Tony Gagliano, Executive Chairman and CEO of St. Joseph Corporation. "There is tremendous potential value in Canbo's exclusive multi year contract with the Vatican to distribute content. This is a great opportunity for us to enter the broadcast media."
St. Joseph Corporation is one of the fastest growing companies in Canada having grown to 2000 associates. St. Joseph is also the largest privately owned print, publishing and digital communications company in the country. Its services include digital production, marketing communications and print-on- demand solutions to customers throughout North America.
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