Colorado Media Newsroom
February 8th, 2024, 08:10 AM
From Radio Insight:
https://radioinsight.com/wp-content/images/2023/06/bellmedia-200x200.jpgBell Media is selling 45 of its 103 radio station in Canada and cutting 4,800 jobs across it and parent BCE Inc.
Bell Chief Legal and Regulator Officer Robert Malcolmson told the Canadian Press (https://halifax.citynews.ca/2024/02/08/canadian-press-newsalert-bce-cutting-9-of-workforce-selling-45-radio-stations/), ?That?s a significant divestiture. It?s because it?s not a viable business anymore. We will continue to operate ones that are viable, but this is a business that is going in the wrong direction.?
Bell, which operates its radio division under the iHeartRadio brand under license from iHeartMedia, will sell the 45 stations to seven buyers. Vista Radio Ltd. is buying 21 stations in the province of British Columbia. Maritime Broadcasting System Limited will acquire 5 stations in New Brunswick, Arsenel Media will purchase seven stations in Quebec. Stations being divested in Ontario are being split among four companies. Whiteoaks Communications Group Limited will purchase four stations in Hamilton and St. Catharines. Durham Radio Inc. buys three in Lindsay and Peterborough. My Broadcasting Corporation gets four in Kingston and Brockville. Zoomer Media buys CJOS-FM Owen Sound. No terms for the sales were disclosed and all are pending CRTC approval.
more (https://radioinsight.com/headlines/264639/bell-media-to-sell-45-stations-to-seven-companies-in-canada-as-part-of-major-restructuring-cuts/)
https://radioinsight.com/wp-content/images/2023/06/bellmedia-200x200.jpgBell Media is selling 45 of its 103 radio station in Canada and cutting 4,800 jobs across it and parent BCE Inc.
Bell Chief Legal and Regulator Officer Robert Malcolmson told the Canadian Press (https://halifax.citynews.ca/2024/02/08/canadian-press-newsalert-bce-cutting-9-of-workforce-selling-45-radio-stations/), ?That?s a significant divestiture. It?s because it?s not a viable business anymore. We will continue to operate ones that are viable, but this is a business that is going in the wrong direction.?
Bell, which operates its radio division under the iHeartRadio brand under license from iHeartMedia, will sell the 45 stations to seven buyers. Vista Radio Ltd. is buying 21 stations in the province of British Columbia. Maritime Broadcasting System Limited will acquire 5 stations in New Brunswick, Arsenel Media will purchase seven stations in Quebec. Stations being divested in Ontario are being split among four companies. Whiteoaks Communications Group Limited will purchase four stations in Hamilton and St. Catharines. Durham Radio Inc. buys three in Lindsay and Peterborough. My Broadcasting Corporation gets four in Kingston and Brockville. Zoomer Media buys CJOS-FM Owen Sound. No terms for the sales were disclosed and all are pending CRTC approval.
more (https://radioinsight.com/headlines/264639/bell-media-to-sell-45-stations-to-seven-companies-in-canada-as-part-of-major-restructuring-cuts/)