MONTREAL – At about 6 a.m. this morning (Saturday), Bell Canada Enterprises entered into a definitive agreement to be acquired by a private investor group led by Teachers Private Capital, the private investment arm of the Ontario Teachers Pension Plan and two U.S. private equity firms, Providence Equity Partners Inc. and Madison Dearborn Partners, LLC.
The all-cash transaction is valued at $51.7 billion (US$48.5 billion), including $16.9 billion (US$15.9 billion) of debt, preferred equity and minority interests. The BCE board of directors unanimously recommends that shareholders vote to accept the offer.
The equity ownership of BCE would be as…
Continue Reading
OTTAWA-GATINEAU – There will be a new way of doing things when it comes to funding home-grown television, if the recommendations from the Task Force Report on The Canadian Television Fund are followed.
Upon first read, the recommendations released today by task force chair Michel Arpin, vice-chair, broadcasting at the CRTC, largely address the complaints made by the primary funding organizations – Canadian cable and satellite companies – which were led by Shaw Communications and Quebecor Media.
While most of the BDUs have serious reservations about how the CTF has worked and is working, Shaw and Quebecor took action this…
Continue Reading
OTTAWA-GATINEAU – In its application to purchase the five Citytv broadcast stations, Rogers Communications has told the CRTC it will voluntarily divest its two Christian OMNI stations in Winnipeg and Vancouver.
As readers will recall, Rogers emerged as the buyer for Citytv Vancouver, Calgary, Edmonton, Winnipeg and Toronto after the Commission told CTVglobemedia that it could purchase CHUM Ltd., but not the five local TV stations.
Rogers’ two English language stations, although niche religious stations, do violate the Commission’s one-station-per-market policy, which is the reason why the regulator wouldn’t let CTV own the Citytvs. Rogers’ ethnic broadcasters, OMNI.1 and…
Continue Reading
VANCOUVER – An new activist organization is trying to get everyday Canadians to care enough about their media to get involved.
Canadians for Democratic Media said today it is urging people to "send a message to the CRTC calling for policies that limit concentrated and cross-ownership in the media and support public and community-based media," says its press release.
It is also offering an online form letter supporters may sign individually and have automatically sent to the Commission prior to July 18th, which is the deadline for submissions on the CRTC’s diversity of voices proceeding. So, there could be…
Continue Reading
OTTAWA – If the level of radio today’s teenagers now listen to stays consistent as they age, the long-term future of radio appears a little bleak.
Numbers released today by Statistics Canada show that overall, Canadians devoted less time listening to their radios as a form of entertainment in 2006 than in previous years (see chart below), especially teenagers and young adults, many of whom appear to be switching to digital music players and online music services.
"On average, Canadians tuned in to their radios for 18.6 hours during ‘measurement week’ in fall 2006, down from 19.1 hours…
Continue Reading
TORONTO – Billing itself as "The Canadian Solution", Canadian investment banker Catalyst Asset Management has announced a bid for Bell Canada Enterprises which, on the face of it, presents no regulatory hurdles whatsoever.
The bid, the fifth one to become public, would maintain Bell Canada as a stand-alone public company, and would benefit "all Canadians and Canada," says the press release.
Catalyst’s proposed transaction would be completed by way of an exchange offer by a Canadian Corporation formed exclusively for this purpose. That new company will offer one "stapled security" in exchange for each outstanding common share of Bell…
Continue Reading
GATINEAU – Having received applications for a new radio station in each of Peterborough, Ont., and Ottawa-Gatineau, the CRTC has opened a broad call for new applications, as is its practice, for both markets.
The application deadline is August 21, 2007.
Click here for more.
Continue Reading
TORONTO – Except for the five Citytv stations going to Rogers Communications, CTVglobemedia said Friday afternoon that it has closed the transaction for CHUM Limited, having satisfied all of the conditions for approval as set out in the June 8th CRTC decision.
CTVgm CEO Ivan Fecan held a town hall-style meeting today to address employee concerns and allay fears, telling employees that changes will be minimal but that the A Channels will likely be rebranded.
Also this week, CHUM CEO Jay Switzer announced he is stepping down.
All of the assets of CHUM Limited have now been released…
Continue Reading
CALGARY – In the face of a chipper AGM report from the Canadian Television Fund, Shaw Communications CEO Jim Shaw remains displeased over how the CTF is run.
Thanks to a serious amount of pressure put on the Minister for Canadian Heritage, Bev Oda, and the CRTC by Shaw – and then Videotron – when the two companies pulled their funding from the CTF early this year, the Commission created a special panel headed by broadcasting vice-chairman Michel Arpin.
The panel is examining everything about the CTF, top to bottom, front to back and will file its…
Continue Reading
OTTWA – Rogers Broadcasting Ltd. has applied for a licence for another sports channel, called Sportsnet 2, which would primarily cover soccer, cricket and rugby. The application for the national Category 2 digital licence was gazetted Thursday by the CRTC (Broadcasting Notice 2007-7).
The new channel would seek “a limited ability to cover other sports,” but is prepared to accept a condition of licence prohibiting coverage of North American professional sports leagues (National Hockey League, Major League Baseball, National Basketball Association, Canadian Football League and National Football League).
Rogers tells the CRTC in its application that Sportsnet 2 would…
Continue Reading
