Trading in stock of Canadian entertainment conglomerate CHUM Ltd. was halted yesterday (July 12) on the Toronto Stock Exchange amid speculation that the Toronto-base firm is about to be purchased by B

Trading in stock of Canadian entertainment conglomerate CHUM Ltd. was halted yesterday (July 12) on the Toronto Stock Exchange amid speculation that the Toronto-base firm is about to be purchased by Bell Globemedia.

Prior to the trading halt, CHUM had a market valuation of about C$904.3 million ($796 million).

Bell Globemedia owns the CTV television network and Toronto's Globe and Mail newspaper, as well as 17 specialty television channels including the Sports Network, MTV Canada, Report on Business Television and Discovery Channel.

CHUM owns 33 radio stations and 12 local television stations headed by the CityTV channels in Toronto, Vancouver, Calgary, Edmonton and Winnipeg. It also has 21 specialty TV channels including MuchMusic, MusiquePlus, Space and Bravo!

CHUM Ltd. founder and controlling shareholder Alan Waters died in Dec. 2005. At that time, his son Jim Waters, chairman of CHUM Ltd., had indicated that there were no plans to sell the company.