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We are building a world-leading, 21st-century sports media and entertainment company and this best-in-class performance venue will be the chosen home for a new generation of fans that think differently about their entertainment choices and experiences, OverActive president and CEO Chris Overholt said in a statement Monday. The plan has yet to receive final approval from the Exhibition Place board of governors and Toronto City Council, however. We are in the final stages of putting our business terms together with city officials and we are optimistic that we can soon wrap up our discussions to everyone’s satisfaction, an OverActive spokesman said.

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