This story from The Walrus differs from the movie about MuchMusic in that it talks not only to the VJs but those behind the scenes who made the magic happen.

They blame two things for the eventual demise of "The Nation's Music Station." The first and biggest was the Internet. Fans could now see their favourite video on demand and didn't need to wait for Much to show it. 

And then there's Bell and other giants, who helped to dismantle a special place that was already getting overly corporate. This is from Steven Kerzner, aka Ed The Sock:

"The company, all of a sudden, had six vice presidents. And it became much more corporate. Moses [Znaimer] started to be seen as a liability because he was mercurial and governed by his passions and inspirations. That didn’t bode well for [corporate] stability."

Adds Michael Williams:

"[CTVglobemedia] buying MuchMusic [and] all the radio stations . . . that’s not good for the country [because] if the government had not given those licences to [them], they would have probably created another two dozen media companies . . . put more money into the system. They also would have created a system that kept local broadcasting going [instead of trying to] program the whole country."

The Rise and Fall of MuchMusic