Bell Media: Difference between revisions

On September 10, 2010, BCE announced plans to re-acquire 100% of the company's broadcasting arm, including CTV Inc. Under the deal, [[The Woodbridge Company|Woodbridge]], [[Torstar]], and Teachers' would together receive $1.3 billion in either cash or equity in BCE, while BCE would also assume $1.7 billion in debt (BCE's existing equity interest was $200 million, for a total transaction value of $3.2 billion). Woodbridge would also regain majority control of The Globe and Mail Inc., with BCE retaining a 15% interest. The overall deal was expected to close by April 2011.<ref name="bell-pr-2010">{{cite web|url=http://www.newswire.ca/en/releases/archive/September2010/10/c8677.html|title=Bell to acquire 100% of Canada's No.1 media company CTV|publisher=CNW Group|author=Bell Canada|date=2010-09-10|access-date=2010-09-10}}</ref> However, the sale of ''The'' ''Globe'', which did not require CRTC approval, was completed in late December 2010.<ref name="globesale-2011">{{cite news|url=https://www.thestar.com/business/companies/article/915934--torstar-completes-first-stage-of-ctvglobemedia-sale|title=Torstar completes first stage of CTVglobemedia sale|work=[[Toronto Star]]|date=2011-01-04|access-date=2011-01-09}}</ref> The deal was approved by the CRTC on March 7, 2011,<ref>[http://www.crtc.gc.ca/eng/com100/2011/r110307.htm CRTC approves BCE's purchase of CTVglobemedia] {{webarchive|url=https://web.archive.org/web/20150305155104/http://www.crtc.gc.ca/eng/com100/2011/r110307.htm |date=2015-03-05 }}, ''CRTC'', March 7, 2011</ref><ref>[http://www.crtc.gc.ca/eng/archive/2011/2011-163.htm Broadcasting Decision CRTC 2011-163], Change in effective control of CTVglobemedia Inc.'s licensed broadcasting subsidiaries, ''CRTC'', March 7, 2011</ref> and the company was officially closed on April 1, 2011. It was renamed as "Bell Media".<ref>[https://www.ctvnews.ca/crtc-approves-bce-s-purchase-of-ctvglobemedia-1.615461 CRTC approves BCE's purchase of CTVglobemedia, Inc.] {{webarchive |url=https://web.archive.org/web/20110629044310/http://www.ctv.ca/CTVNews/TopStories/20110307/crtc-approves-ctvglobemedia-purchase-by-bce-110307/ |date=June 29, 2011 }}</ref>