My question is addressed to the Minister of Industry.
On February 14 Viacom, an American corporation, took control of the Paramount group in the United States. This transaction will have a major impact on the ownership of the Canadian cultural industry since Paramount is a major player in that sector in Canada. It controls among others, Prentice-Hall, Ginn Publishing, Maxwell Canada and has a major stake in the Famous Players cinemas.
Since the Viacom-Paramount transaction represents a major shift to foreign ownership of the Canadian cultural industry, will the minister ask Investment Canada to review this transaction as is his prerogative under the Investment Canada Act?