Bell Media Q1 Revenue: C$512 Million
May 3, 2012 at 6:15 AM (PT)
BELL MEDIA first-quarter revenue was C$512 million, attributed to strong ad sales across its television, radio and digital media properties, as well as subscriber fees from cable and satellite operators for carrying the company's TV stations and cable channels. EBITDA in Q1 2012 was C$81 million, including a C$23 million non-cash charge to amortize the fair value increment of programming rights recognized on the acquisition of CTV.
The company was formed in APRIL 2011 after the acquisition of the CTV network from CTV GLOBEMEDIA and includes the former CHUM RADIO stations. It has filed to acquire ASTRAL MEDIA, including radio stations in several major Canadian markets.
"The BELL team's successful execution of our Strategic Imperatives resulted in solid Q1 financial performance, with significant growth in BELL revenue and EBITDA reflecting especially strong contributions by BELL WIRELESS and BELL MEDIA," said BELL CANADA and BCE President and CEO GEORGE COPE. "We look forward to welcoming MONTREAL-based ASTRAL MEDIA to the BELL team later this year as BELL works to expand our media leadership, delivering the best content across the best networks to any broadband screens our customers choose."
Parent BCE's Board of Directors has declared a quarterly dividend of 54 1/4 cents per common share, payable on JULY 15th to shareholders of record on JUNE 15th.