BCE Inc. (BCE,BCE.TO) said it has completed its $3.2-billion acquisition of CTV and launched Bell Media, a new business unit encompassing all CTV and other Bell content assets.
Bell fulfilled all regulatory, legal and other requirements to close the transaction on April 1, approximately 90 days earlier than originally expected due to expeditious approval by the Canadian Radio-television and Telecommunications Commission and the Competition Bureau. Bell plans to update its 2011 financial guidance to reflect the acquisition, and the earlier-than-expected closing, when it delivers its BCE first quarter results on May 12, 2011.
In addition, Bell unveiled Bell Media, a new business unit led by President Kevin Crull that includes all CTV properties and other Bell content assets. Bell Media announced a world-class package of top news, sports and entertainment content for Canada's mobile providers.
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