Toronto: Trizec Canada, owner of the CN Tower, announced on December 17th that it is selling the landmark property to Canada Lands Company, a crown corporation and the tower's original owner. The landmark property was sold to Canada Lands for $35 million USD, and no significant gain or loss is expected from the transaction.

Trophy buildings like the CN Tower were made difficult to sell after the terrorist attacks of September 11, 2001, but luckily the CN Tower has found Canada Lands to be its 'new' owner after a year-long search.

Canada Lands Company will take over the CN Tower in the first quarter of 2004. Plans have been made to turn the base of the tower, situated on 9.9 hectares, into an entertainment destination.