CN Tower Owner Rejects $78 Million To Rename The Canadian Landmark. Canada Lands Company Vice President of Public and Government Affairs Gordon McIvor called an offer to rename a Canadian landmark a publicity stunt by an online used car firm that just launched its Website. Vehicle Gateway Corporation said on its portal on Tuesday that it will submit a $78 million bid to rename CN Tower and light it up using the car firm’s corporate color of green. Vehicle Gateway wanted to change the tower’s name to VG Tower. McIvor clarified that the 1,815-feet (553.3 meters) CN Tower, owned by CLC, is not for sale. However, Vehicle Gateway spokesman Peter Davies said their offer is a legitimate bid and is not to gain media mileage. CN Tower was the tallest free-standing structure on land until September 2007, when the title was taken by the Burj Khalifa in Dubai. However, the CN Tower is still the tallest tower in the west. More than two million tourists visit every year the tower, located in Toronto.