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ARCHIVED - Broadcasting Decision CRTC 2003-113

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Broadcasting Decision CRTC 2003-113

Ottawa, 10 April 2003
Bell Globemedia Inc. on behalf of CTV Inc. and its licensed undertakings
 Across Canada
Application 2003-0218-3

Change in ownership of Bell Globemedia Inc.

1.

The Commission received an application by Bell Globemedia Inc. (BGM) on behalf of CTV Inc. (CTV) and its licensed undertakings, for authority pursuant to Section 10 of the Specialty Services Regulations, 1990 (the Specialty regulations) and Section 14 of the Television Broadcasting Regulations, 1987 (the Television regulations), to effect a change of ownership of BGM.

2.

BGM is currently owned by BCE Inc. (BCE), Thomson Canada Limited (Thomson), and The Woodbridge Company Limited (Woodbridge). The respective ownership positions are 70.1%, 20% and 9.9%.

3.

The proposed transaction would take place in two steps:
a) Thomson would sell its 20% voting interest in BGM to a newly incorporated company, 1565117 Ontario Limited (1565117). The Commission notes that, pursuant to the Specialty regulations and the Television regulations, both Woodbridge and 1565117 are considered associates. This step would increase Woodbridge and 1565117's collective voting interest in BGM to 29.9%. While this step does not require Commission approval, the licensee is required to notify the Commission, pursuant to the Specialty regulations and the Television regulations.
b) Woodbridge and 1565117 would acquire from BCE 1.5% of BCE's voting interest in BGM, thereby increasing their collective voting interest in BGM to 31.5%. Under the Specialty regulations and the Television regulations, this transaction requires prior Commission approval.

4.

As a result of the proposed transaction, Thomson would cease to be a shareholder of BGM and Woodbridge would assume Thomson's obligations under the BGM Amended and Restated Shareholders Agreement, 1 January 2001. Following the transaction, BCE's voting interest in BGM would be 68.5%, and Woodbridge and 1565117 would have voting interests in BGM of 9.6% and 21.9% respectively.

5.

The Commission notes that the proposed transaction would have no impact on the ultimate control of BGM, or of CTV and its licensed undertakings, since control would remain with BCE. The Commission therefore approves the application to effect the proposed changes in the ownership of BGM.

6.

The Commission will modify its ownership records accordingly.
Secretary General
This decision is to be appended to the licence. It is available in alternative format upon request, and may also be examined at the following Internet site: http://www.crtc.gc.ca

Date Modified: 2003-04-10

Date modified: