Oh Canada: CBC making space for Mickey?

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Oh Canada: CBC making space for Mickey?

News article from Canada:

Mickey Mouse is eyeing office space at CBC’s Toronto headquarters in a proposed leasing deal that could net the public broadcaster a cool $4 million.

The CBC says it’s in talks with Walt Disney Co. (Canada) over renting some of its downtown property.


“We’re still in discussions, we don’t have anything finalized,” said spokesman Jeff Keay, adding that the broadcaster has long sought such deals to bring in extra cash.

“For years we have been in discussion with potential tenants for the excess space that we have available in the Toronto broadcast centre. We’re always looking to make the best use of our available resources and we have excess space in the building. Frankly, it’s some of the prime space in the downtown core of the city.”

A statement posted on a federal government website notes that the CBC has won cabinet approval to lease part of its Toronto offices to Disney.

The statement, posted on cabinet’s official website and dated March 25, says the CBC may lease a portion of its property for 10 years with two options to renew for five years each “for a total consideration in excess of four million dollars.”

Keay notes that similar arrangements have been worked out with previous tenants at the CBC building, including a buffet-style restaurant on the ground floor and a broadcasting school.

The cash-strapped CBC slashed jobs and cut programming last year in a bid to gain control over a $171-million deficit for the 2009-2010 year.

Part of the belt-tightening included a plan to sell $125 million in assets.

While the added revenue would be a boon to the beleaguered broadcaster, Keay said the CBC’s fortunes were in no way dependent on the leasing deal going through.

“Our budgets have been approved and we’re not in a crisis situation,” he said.

The Canadian Press


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Chip is the owner, editor, and writer of Chip and Company. When he is not writing about Disney News or Planning Tips, you will find him counting down the days to his next Disney Vacation.
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