Bell Media emerges from CTV buy
April 4, 2011
Bell has completed its $3.2 billion acquisition of CTV and launched Bell Media, a new business unit encompassing all CTV and other Bell content assets. Bell Media has announced a package of top news, sports and entertainment content for Canada’s mobile providers.
Bell fulfilled all regulatory, legal and other requirements to close the transaction, approximately 90 days earlier than originally expected due to expeditious approval by the Canadian Radio-television and Telecommunications Commission (CRTC) and the Competition Bureau. Bell plans to update its 2011 financial guidance to reflect the acquisition, and the earlier-than-expected closing, when it delivers its BCE Q1 2011 results on May 12, 2011.
Bell announced in September 2010 that it would acquire 100 per cent of CTV to accelerate the delivery of media to Canadians across multiple broadband platforms.