BCE is launching Bell Media, a new business unit that includes CTV and other Bell content assets as it moves to put its content across smartphones, tablets, computers in as well as traditional TV.
BCE said Friday it has completed its $3.2-billion acquisition of the national broadcaster and will update its 2011 financial guidance to reflect the CTV acquisition when it reports first-quarter results on May 12.
“Our acquisition of Canada’s No. 1 media company leverages our strategic investments in broadband networks and services and enables our promise to deliver the content Canadians want most across every screen – smartphone, tablet, computer and TV,” chief executive George Cope said in a statement.
The telecom giant was given the green light to expand its media empire last month by the CRTC.
But the CRTC has ordered BCE to invest $245 million in the Canadian broadcasting industry, including $100 million to commission independently produced programs of national interest such as drama and comedy series.
Bell Media also operates 29 specialty channels, including BNN – Business News Network, Discovery Channel, Much, MTV, The Comedy Network, Space, and TSN and RDS; 33 radio stations, including TSN Radio 1050 set to launch April 13; Dome Productions, a mobile broadcast facilities provider; and dozens of high-traffic news, sports and entertainment web sites, including Sympatico.ca portal.
