CNE to split from city of Toronto and become independent fair

The Canadian National Exhibition has struck a deal with its landlord at Exhibition Place that will make it independent of the City of Toronto.
The operators of the historic 18-day fair say they reached an agreement Friday with the Board of Governors of the city-owned lakefront property.
The deal will see the CNE pay the city higher rent but allow the fair to retain any profits and invest them in future years, CNE President Brian Ashton told The Star in a telephone interview.
Ticket prices will remain the same, Ashton said. As an independent entity, the CNE will be freer to negotiate its own deals with suppliers and become more efficient, he explained.
“If we became more independent, I felt strongly that we’d be much more nimble at how we provide the CNE,” Ashton said.
The deal, which has been approved by the CNE Association and the Board of Governors of Exhibition Place, still has to go to city council March 5 and 6.
If approved, it would become effective April, 2013.