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09-10-2010, 05:52 AM
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#1 | | My AFC gave me an ABS CEL code of LOL while at WOT!
Join Date: Mar 2009 Location: Vancouver
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| Bell purchases CTV for $3.2B
http://www.financialpost.com/news/sn...365/story.html Quote:
BCE Inc. said Friday it has agreed to acquire broadcast giant CTV for $1.3-billion, in a deal valued at $3.2-billion.
Bell, which currently holds a 15% stake in CTV, will acquire the remaining 85% for $1.3-billion in equity value from an ownership group including The Woodbridge Company Ltd., the Toronto-based holding company of the Thomson family, the Ontario Teachers Pension Plan and Torstar Corp.
Bell expects to close the deal by mid-2011, however there are several regulatory hurdles in the way including approvals from the Canadian Radio-television and Telecommunications Commission and the Competition Bureau.
Including Bell's current stake, the equity value comes in at $1.5-billion. Add in proportionate debt of $1.7-billion, and the total transaction value is $3.2-billion, the company said in a release.
In a separate transaction, Woodbridge has agreed to acquire the Globe and Mail.
Bell maintains a 15% equity position in the newspaper.
"Our industry is changing rapidly. Increasing vertical integration across the communications landscape, ongoing technological advancement and key regulatory developments introduce new opportunities with the ownership of high-demand content by Bell," George Cope, chief executive of Bell Canada and BCE, said in a release. "Our acquisition of CTV more than levels the playing field in our increasingly competitive industry."
Ivan Fecan, chief executive with CTV, also trumpeted the importance of vertical integration across conventional, specialty and digital TV and radio assets.
"In today's digital age, it is extremely important to be part of a vertically integrated company that can take advantage of video delivered on multiple screens," he said in the release. "CTV has emerged stronger than ever from the recession ... This is the right deal at the right time."
CTV operates Canada's no. 1 TV network with 27 stations across the country. The broadcaster also owns 30 specialty channels, including leading sports network TSN as well as web properties CTV.ca, MuchMusic.com and others. CTV also owns CHUM Radio, which operates 34 radio stations across Canada.
Siim Vanaselja, chief financial officer for Bell Canada and BCE, said the deal will be "immediately accretive" to earnings and free cash flow.
The deal will be funded by a new bank facility worth $2-billion as well as $750-million in new BCE common sahres issued to Woodbridge and surplus cash.
"Based on our discussions with the rating agencies, we expect our credit ratings to be confirmed," he said in the release.
Moody's Investors Service said Friday its ratings for Bell Canada and BCE are unaffected by the announcement.
"Woodbridge is very pleased to make this sizeable equity investment in BCE," David Thomson, chairman of Woodbridge, said in the release. "We are confident in Bell's ability to execute on the incredible growth opportunities in Canadian communications, including the increasing consumer demand for video across multiple platforms."
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09-10-2010, 08:37 AM
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#2 | | ESKETIT
Join Date: Feb 2004 Location: Shambhala
Posts: 23,360
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bell with ctv shit maybe they will lower their phone plans to  | |
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09-10-2010, 09:41 AM
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#3 | | To me, there is the Internet and there is RS
Join Date: Apr 2004 Location: Nanaimo
Posts: 17,076
Thanked 8,128 Times in 3,813 Posts
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This will be fail if they run it like they run Bell Express Vu.
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Until the lions have their own historians, the history of the hunt will always glorify the hunter. | |
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09-10-2010, 10:35 AM
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#4 | | RS has made me the bitter person i am today!
Join Date: Aug 2002 Location: Bootyville
Posts: 4,638
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as a leafs fan I hate to see the Ontario Teachers Pension Plan becoming more powerful. I wish they would sell the leafs to an owner who actually cares about winning
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LEAFS! | |
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09-10-2010, 04:11 PM
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#5 | | I only answer to my username, my real name is Irrelevant!
Join Date: Oct 2002 Location: CELICAland
Posts: 25,679
Thanked 10,395 Times in 3,918 Posts
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as long as CTV stays the same im happy, i like the channel
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09-10-2010, 04:35 PM
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#6 | | I answer every Emotion with an emoticon
Join Date: Feb 2005 Location: somewhere
Posts: 7,906
Thanked 2,485 Times in 1,007 Posts
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| Quote:
Originally Posted by Manic!  This will be fail if they run it like they run Bell Express Vu. | maybe this might help it...
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09-11-2010, 12:19 PM
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#7 | | Banned By Establishment
Join Date: Jun 2006 Location: Shaugnessy
Posts: 2,610
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Get ready to see "brought to you by Bell" "now we're moving over to our Bell Traffic and weather report" "We have just received breaking news that Bells rates are of the best value in the industry. Consumers all over Canada are proud to say theyre bell customers. One man even tattood the logo on his face and notes 'Ive never been happier without bell!'"
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09-11-2010, 01:17 PM
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#8 | | Banned (ABWS)
Join Date: Apr 2010 Location: Van
Posts: 492
Thanked 341 Times in 79 Posts
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capitalism at its best..
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09-12-2010, 01:05 AM
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#9 | | I don't get it
Join Date: Sep 2007 Location: Surrey
Posts: 403
Thanked 65 Times in 19 Posts
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i thought the title was "Bell purchases CTV for $3.28" lol
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09-12-2010, 08:20 AM
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#10 | | Need to Seek Professional Help
Join Date: Jun 2010 Location: Vancouver
Posts: 1,076
Thanked 359 Times in 162 Posts
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thats what i read too at first lol
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