Bell Globemedia completes financing for CHUM shares

TORONTO – Bell Globemedia has completed its financing to pay for its takeup of the shares of CHUM Limited. The ownership in BGM is now 40% by the Woodbridge Company Limited (unchanged), 25% for the Ontario Teachers’ Pension Plan (up from 20%), 20% by Torstar Corporation (unchanged), and 15% (down from 20%) for BCE Inc. The financing was raised in part through the issuance of additional equity in BGM. These share levels allow BCE to meet the requirements set out in an agreement reached last December regarding changes to BGM’s ownership structure, before BGM announced it wanted to purchase CHUM. ...