Worldplay Communications Inc. and Worldplay (Canada) Inc., Calgary-based companies operating an online streaming platform, filed a Notice of Intention (NOI) to make a proposal on July 30, 2024, after ceasing operations in mid-July. Worldplay had previously partnered with TELUS in 2021 to provide the Optik TV platform, enabling consumers to stream live events and businesses to host virtual conferences online. Since 2022, the companies, with Ernst & Young (EY) as an advisor, conducted a strategic review to find an investor or purchaser to sustain operations. However, the process did not result in a transaction, leading to the shutdown. Subsequently, Worldplay entered into a subscription agreement with a group of purchasers, who agreed to act as stalking horse bidders in a Sales and Investor Solicitation Process (SISP) under the NOI proceedings. McCarthy Tétrault LLP served as counsel for Worldplay, while Torys LLP represented the proposal trustee, EY.