Bell to Take Full Control of CTV

MONTREAL: Canadian telco Bell is taking 100-percent control of broadcaster CTV in a deal valued at C$1.3 billion.


Bell, which currently owns a 15 percent of CTV, is acquiring the remaining interest from The Woodbridge Company Limited, the Toronto-based holding company of the Thomson
family; Ontario Teachers Pension Plan; and Torstar Corporation. Woodbridge will
 acquire ownership of the Globe and Mail, in which Bell will continue to retain a 15-percent stake.


"Acquiring CTV’s range of premier video content enhances Bell’s execution of our strategic imperatives by
leveraging our significant broadband network investments, accelerating Bell’s video growth across all three
screens—mobile, online and TV—and achieving a competitive cost structure," said George Cope, president and CEO of Bell Canada and BCE. "100-percent ownership of CTV
enables Bell to maximize strategic and operating synergies with CTV, including the efficiency of our content 
and advertising spend. 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. Our acquisition of CTV more than levels the playing field in our
increasingly competitive industry."

Ivan Fecan, CEO of CTV, added, "Bell’s acquisition of CTV underscores the strength of our number one conventional, specialty, digital and radio assets, and our leading creative and content management
 expertise. 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. CTV has emerged stronger than ever from the
 recession, and is now perfectly positioned to take advantage of an improving economy. This is the right deal
 at the right time."

The CTV transaction is subject to approvals from the Canadian Radio-
television and Telecommunications Commission (CRTC) and the Competition Bureau. It is expected to close in the middle of next year.