the CBC also requested to define rural Canadians using Statistics Canada definition, reading as "individuals from rural non-metro adjacent areas, rural metro adjacent areas and rural northern areas." Although the CRTC raised some concerns over the proposed schedule the CBC submitted as part of this application, the CRTC ultimately approved the application and was satisfied with the changes, stating that the new definition of rural Canadians was more appropriate since it reflected their geographical location, rather than their occupations as the previous nature of service defined; and to ensure the programming reflected Canada's various regions, as per the new nature of service, the CRTC added a definition of such programming. Blue Ant Media purchase On April 4, 2012, the CBC announced, in the wake of a $115 million government funding budget cut to be phased in over the next 3 years, that it would sell Bold as a measure to cope with the budget shortfall since the service's licence conditions no longer fit the CBC's strategy nor complement the other programming streams. On August 17, 2012, Blue Ant Media announced that it would purchase the channel for an undisclosed amount, later revealed at $10 million. As a federal crown corporation asset owned by the CBC, the deal also required approval from the Governor-in-Council, which was approved in February 2013. On November 17, 2012, the CRTC approved the sale of Bold to Blue Ant Media. As a condition of the acquisition, Blue Ant stated that it would fund the production of programming that reflects Canada's rural and non-urban regions. Rebranding as Cottage Life In July 2011, Blue Ant Media purchased a 15% interest in Quarto Communications, with its intentions of launching several television channels based upon Quarto's magazine brands, in particular, Cottage Life. Later, in November 2011, Quarto was granted a license for a Category B service known as Cottage Life Television, which would be focused on programming dealing with cottage communities and lifestyles. Four months after it announced its intentions to purchase Bold, Blue Ant would later purchase the remaining shares in Quarto Communication and rename the company Cottage Life Media. In April 2013, Blue Ant announced it would launch Cottage Life in the fall of 2013; it was speculated that the company would re-launch Bold as a Cottage Life channel, primarily because the rural-based nature of service complimented the subject matter that Cottage Life covered and bold had existing