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The CDC was created as a result of Walter Gordon's Royal Commission on Canada's Economic Prospects, and the 1968 Watkins Report commissioned by Gordon, in an attempt to redress the problem of foreign ownership in the Canadian economy by stimulating the development of Canadian owned corporations, particularly in the field of natural resources and industry.
The Liberal government of Prime Minister Pierre Trudeau instituted attempts to assert domestic economic control such as the creation of Petro-Canada, meant to assert Canadian control of the energy sector, and the Foreign Investment Review Agency, intended to review and limit foreign ownership and particularly American takeovers of Canadian companies.
Masse has criticized Industry Minister Maxime Bernier's plans to deregulate Canada's telecommunications market and ease restrictions on foreign ownership, arguing that the reforms could result in a small number of companies controlling the Canadian industry.
A limitation on FDI in the banking sector was reduced when the CBA increased the limit on participation of banks with foreign ownership from 30 to 50 percent of the commercial banking market.
In 1972, because of new foreign ownership guidelines implemented by the Canadian Radio-television and Telecommunications Commission (CRTC), CFCF-TV (majority owned by General Electric Company plc, a British company, through its subsidiary Canadian Marconi Company) and its sister stations CFCF-AM, CFQR-FM and CFCX-SW were sold to computer and telecommunications company Multiple Access Ltd., owned by the Bronfman family.
The group have been opposed to foreign ownership of the club, opposing both the unsuccessful takeover attempt by Rupert Murdoch, and the later successful takeover by the current owners, the Glazer family.
It branched off due to foreign ownership rules for the wholly owned Asian subsidiary of 24 Hour Fitness, called California Fitness, and has member swap agreements with both chains.