CRTC approves BCE acquisition of CTVglobemedia
By Adnews Staff
The Canadian Radio-television and Telecommunications Commission has approved BCE's acquisition of CTVglobemedia. "We are pleased that BCE has addressed our questions regarding how this transaction would contribute to the vitality of the Canadian broadcasting system," said Konrad von Finckenstein, chairman of the CRTC. "BCE will provide stability to the CTV Television Network. It will also invest $245 million in the Canadian broadcasting system, of which more than $140 million will be allocated to new Canadian television and radio programming." The commission's approval requires BCE to, among other stipulations, allow for the carriage of at least 43 additional television services over the next seven years. The CRTC has also imposed a moratorium on BCE until the close of its proposed examination of vertical integration in the broadcasting and telecommunications industries that prevents the company from entering into new exclusive agreements that would prevent it from making the rights to its television programming available to competitors for broadcast on mobile devices and over the Internet.