advertisement
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.

advertisement

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.

advertisement
Sabrina Carpenter
Bryce Anderson

Sabrina Carpenter

Pop

Sabrina Carpenter is Coming to Toronto, Montreal and Vancouver on 2024 Short N’ Sweet North American Arena Tour

The singer will also fill-in for Tyler, The Creator at the Outside Lands Festival in San Francisco following the rapper's announcement that he's dropped off the bill.

Sabrina Carpenter announced the dates for her upcoming fall 2024 North American headlining arena tour on Thursday (June 20), with the Short n’ Sweet outing slated to kick off on Sept. 23 in Columbus, Ohio followed by Sept. 25 at Toronto's Scotiabank Arena. The 29-date tour will travel across the U.S. and Canada from September through mid-November, with stops in Detroit, New York, Philadelphia, Montreal, Chicago, Nashville, Atlanta, Dallas, Vancouver, Seattle, San Diego and Phoenix before winding down on Nov. 15 at Crypto.com Arena in Los Angeles.

Support acts on the tour include Amaarae, Griff and Declan McKenna, with the singer partnering with PLUS1 to launch the Sabrina Carpenter Fund to support the well-being of people and animals to provide support for mental health, animal welfare and the LGBTQ+ community on the swing.

keep readingShow less
advertisement