LAID OFF? BUY THE COMPANY
"The little station that could: How these employees saved Victoria's CHEK News after buying it for $2."
"CHEK’s employees saved the station by buying it. With the help of then-28-year-old entrepreneur Levi Sampson, who had played a major role engineering a similar employee buyout of a mill in Nanaimo, they pooled their money, found other investors and convinced Canwest and its bondholders to hand over the station for a Toonie, plus $2.5 million to cover operating losses while CHEK rebuilt its programming schedule from scratch."
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So a co-op. Terrific idea! Saved a lot of jobs and allowed the group to expand offerings to viewers.