Wednesday, July 11, 2012

Bell Canada proposes CAD 200 mln investment in broadcast

Bell Canada announced plans to invest CAD 200 million in support of Canada's broadcasting industry as part of the conditions for regulatory approval of the company's acquisition of Astral Media. The proposed benefits package includes CAD 96 million for the production of Canadian programming of national interest and other on-screen initiatives in both official languages (with the majority of funds committed to French-language initiatives); CAD 61 million in radio benefits to help develop Canadian musical talent, and assist community radio and other initiatives; CAD 40 million to make Canadian programming more widely available in Canada's North through the extension of broadband wireline and wireless service to all communities served by Bell subsidiary Northwestel; and CAD 3.5 million in media support for Bell Let's Talk Day, an annual media initiative that raises money and awareness to help combat mental health issues. The Canadian Radio-television and Telecommunications Commission (CRTC) requires any transaction involving a change of control of a broadcast entity to include a package of tangible benefits to be paid into the Canadian broadcasting industry. CRTC approval of the Astral acquisition will also require Bell to sell 10 radio stations in five markets.

(Source : telecompaper.com)

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