At a Toronto television set, federal Heritage minister James Moore said Monday the fund would begin accepting applications from TV and new media producers by April 2010, Sun Media reported.
"The new fund would put emphasis on Canadian-made dramas, children's programs, documentaries among others," Moore said. "The fund will hire Canadians and use Canadian talent, actors, writers and directors."
The announcement was attended by senior executives from the Canadian Broadcasting Corp, CTV, Sun Media, Rogers, Bell Video Group and Shaw Communications, all of whom welcomed the move, the report said.
In a written statement, the fund was called "good news for the industry" by Pierre Karl Peladeau, president of Quebecor and Sun Media.
"A Canadian fund driven by performance and quality-related criteria is a positive development," Peladeau said.