CRTC OKs BCE Takeover
March 27, 2008 at 4:52 PM (PT)
The CRTC has approved the takeover of BELL CANADA ENTERPRISES by the ONTARIO TEACHERS' PENSION PLAN. The C$34.8 billion deal was approved with conditions, including size and makeup of the company's board, that attempt to ensure that the company will remain in Canadian hands. The deal still needs approval from other agencies, including INDUSTRY CANADA.
BCE owns a 15% stake in CTVGLOBEMEDIA, which owns the former CHUM LTD. radio stations as well as the CTV television network, the A-CHANNEL TV stations, several cable networks, the GLOBE AND MAIL, and 15% of MAPLE LEAF SPORTS AND ENTERTAINMENT, owner of the NHL's TORONTO MAPLE LEAFS, NBA TORONTO RAPTORS, AHL TORONTO MARLIES, MLS team TORONTO FC, and AIR CANADA CENTRE.