Posted October 05, 2018 09:48:22Bell Media announced Tuesday it had purchased Bell Canada for $1.8 billion, bringing the sports media conglomerate into an exclusive partnership with Rogers Communications.
The $1-billion sale will create the Canadian sports media giant with a total market value of $2.3 billion, and bring Bell Sports, Bell Media’s home for sports and entertainment content, under one umbrella.
“Bell Canada is the perfect company for our family to join and I’m confident we’ll find a perfect partner to build on our success and grow Bell Media,” said Kevin Coyle, CEO of Bell Media.
The combined company will operate under a single umbrella, with Bell Media and Rogers Communications each reporting a different portfolio of businesses, including the NHL, NHLPA, CFL, NBA, MLB and UFC. “
We have the right mix of brands, teams and programming to build an incredible sports network that will continue to be a global leader in sports and news.”
The combined company will operate under a single umbrella, with Bell Media and Rogers Communications each reporting a different portfolio of businesses, including the NHL, NHLPA, CFL, NBA, MLB and UFC.
Bell Canada will continue as a standalone entity, while Rogers Communications will continue in its current role as the sole Canadian media provider.
Bell Media has been in the news recently after it announced it had been awarded a $2-billion takeover bid from Rogers, which was eventually accepted by the Canadian media conglomerate.
Coyle also said the combined company would continue to operate under the same brand name, with the Rogers brand now known as Bell Media Sports.
He said Bell Media will continue “to focus on building a platform that brings people closer together through the value of our brands and sports content.”