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FYI

Massive Bell Losses Result In Massive Cutbacks at Media Company

The changing media landscape and government regulations have forced the company's hand and piled up red ink on the company's ledger, resulting in deep operational cuts.

Massive Bell Losses Result In Massive Cutbacks at Media Company

By External Source

Bell Canada Enterprises announced Wednesday it is cutting as many as 1300 positions and terminating six AM radio stations as it seeks to stem financial hemorrhaging in its media division.


NewsTalk 1290 CJBK London, TSN 1260 (CFRN-AM) Edmonton, BNN Bloomberg Radio 1410 (CFTE-AM) Vancouver, Funny 1040 (CKST-AM) Vancouver, Funny 1290 (CFRW-AM) Winnipeg, and Funny 1060 (CKMX-FM) Calgary were off the air as of 11 a.m. ET Wednesday, as per Broadcast Dialogue reporting.

In addition, Bell Media is selling three radio stations – Hamilton's AM Radio 1150 and AM 820 and Windsor's AM 580 – to an undisclosed third party, subject to CRTC approval.

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Bell chief legal and regulatory officer Robert Malcolmson told the Canadian Press that the media division "can't afford" to continue operating with its various brands -- such as CTV National News, BNN, CP24, its local TV news stations and radio channels -- independently of one another.”

Bell Canada president and CEO Mirko Bibic said Bell Canada expects to lose more than $250 million in legacy phone revenues per year, while its news operations incur $40 million in annual operating losses. He said Bell radio stations have seen profit cut in half since the start of the COVID-19 pandemic.

Declines in advertising, listeners and viewership and the accent of online streaming have severely impacted the company’s earnings, but the company also clearly stated that the job cuts and closures are in response to unfavourable public policy and regulatory conditions that it can no longer outwait.

The company reports owning 109 radio stations, 4 pay-tv services, 3 conventional networks and operating 27 specialty channels. – Files from The Canadian Press, Toronto Star.

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Terry Draper
Courtesy photo

Terry Draper

FYI

Obituaries: Klaatu Drummer-Songwriter Terry Draper, MuchMusic VJ Juliette Powell, Glam Rocker Andrew Matheson

This week we also acknowledge the passing of Toronto scene influencer Sandy Stagg, , Canadian country guitar ace Roy Penney and English keyboardist and producer Bob Andrews.

Terry (Edward) Draper, a Canadian drummer and singer-songwriter best known as a member of noted 1970s progressive rock band Klaatu, died on May 15, at the age of 73, of leukemia.

An official obituaryreports that "Born in Toronto, and raised in Weston, Ontario, Terry’s two passions growing up were hockey and music. But music scored the win when he turned down a chance to join an NHL team’s training camp as a goalie to play drums in a band. And did that ever turn out to be a wild ride."

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