MONTREAL – Responding to widespread criticism, Bell said Wednesday that should its $3.38 billion buyout of Astral be approved, it will pony up $80 million in new funding for French-language content development in Quebec.
That new content, which Bell said would be led by the Montreal-based Astral team, will consist of French-language programming of national/international interest, new content for children and youth, and expanded TV and radio music programming, all of which will bump up Astral's current French-language content development by approximately 5% annually.
"This new content funding committed by Bell-Astral will ensure much greater viewing choice for Québec consumers in a media marketplace where true competition and new innovation is long overdue," said Bell president and CEO George Cope, in a statement. "Bell is focused on delivering the best content to any screen that consumers may choose – TV, smartphone, tablet or computer – whether they're Bell customers or not. With the fast growth in viewing options available in Canadian communications, our competitors know that we're ready and willing to make this great new content available to all their customers too."
In a shot aimed squarely at its Quebec-based rival Quebecor, Bell went on to say that it is “committed to the Québec community” and that the Astral transaction “helps finally level the competitive playing field here while at the same time reinvigorating the Québec media scene with significant new funding and innovation”.
"Astral and Bell are both dedicated to growing and competing in the Québec media marketplace. Now, the Astral team will have the resources and support of Bell to deliver the kind of expanded viewing choices and new ideas that Québec consumers deserve," added Martine Turcotte, Bell's vice-chair for Quebec. "As a Montréal company itself since 1880, Bell is proud that our Québec content development will be led by the Astral team right here in our home city."
