CP: Bell Canada parent BCE buys CTV television network for $1.3 billion

MONTREAL - Bell Canada's parent company is buying up the rest of the CTV television network it doesn't already own for $1.3 billion in a deal that splits up the assets of CTVglobemedia, which also holds the Globe and Mail newspaper.

The move announced Friday marks a minor realignment of the national media scene as BCE Inc. (TSX:BCE) scoops up all of CTV and a majority stake in the Globe passes to the Thomson family, which has been involved in the national paper since 1980.

BCE chief executive George Cope said the purchase is part of a plan to broaden the media corporation's pool of content, which it will use across its Bell mobile, online and TV platforms. A similar move was made earlier this year by major Bell competitor Shaw Communications (TSX:SJR.B) when it scooped up Global TV for $2 billion from the restructuring Canwest.

"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," Cope said in a statement.

"Our acquisition of CTV more than levels the playing field in our increasingly competitive industry."

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http://www.winnipegfreepress.com/canada/breakingnews/bell-canada-parent-bce-buys-ctv-television-network-for-13-billion-102617864.html