Effective October 27, 1999, the Company disposed of its 47.8% interest in Headline Sports Television Network for proceeds, net of disposition costs, of $16,376,000 which resulted in a pre-tax gain of $11,288,000. Effective January 28, 2000, the Company acquired Shaw’s interest in 4,848,113 com- mon shares of CTV Inc., representing approximately 8.37% of the outstanding shares of CTV Inc. The aggregate consideration of $117,127,000 was satisfied by a cash pay- ment of $3,218,000 plus the transfer by the Company of 1,400,000 shares of Series A common stock, par value of $0.01 per share, of Liberty Digital Inc. to the Partnership which resulted in a pre-tax gain on the disposition of the Liberty Digital Inc. stock of $105,286,000. The Partnership was established to manage investments in which the Company and Shaw both share common economic interests. The Partnership together with Corus held an aggregate of 5,637,925 CTV Inc. shares (representing approximately 9.74% of the outstanding CTV Inc. shares) following the completion of the transaction. On April 5, 2000, the Partnership tendered its 9.74% interest in CTV Inc. at a price of $38.50 per share to 1406236 Ontario Inc., a corporation wholly owned by BCE Inc., resulting in a pre-tax gain of $81,105,000. In 1998, the Division recorded a writedown of $22,323,000 in the car- rying value of its investment in Liberty Digital Inc. due to prolonged periods of carrying value being in excess of market value. Effective June 6, 2000, the Company acquired 675,000 Subordinate Voting Shares of Nelvana Limited, an animation producer, at $23.00 per share for total consideration of $15,530,000 including transaction costs.  Nelvana Limited CTV Inc./Liberty Digital Inc./Shaw/Corus Investment Partnership  (the “Partnership”) Headline Sports Television Network 94