BCE to sell part of Bell Globemedia holding

5 Dec 2005

BCE has agreed to sell more than two-thirds of its stake in Bell Globemedia, its holding company that includes The Globe and Mail newspaper, the CTV television network and several speciality TV channels. Under the plans TorStar, owner of the Toronto Star newspaper, and the Ontario Teachers’ Pension Plan will each buy 20% of Globemedia. BCE will receive CAD1.3 billion in cash, and will reveal how it plans to spend the proceeds in February.

Canada, BCE (old)