TORONTO, June 21, 2016 /CNW/ - Bell Media today announced that it has entered into an agreement with Montréal-based Stingray Digital Group Inc. (TSX: RAY.A; RAY.B) for the sale of four of its specialty services: Juicebox, MuchLoud, MuchRetro, and MuchVibe.
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"These services are a perfect complement to Stingray's strong multiplatform music portfolio," said Mary Ann Turcke, President, Bell Media. "Divesting these channels enables us to focus our resources on Bell Media's leading slate of specialty services while maintaining our Music First commitment with our portfolio of radio, TV, and digital platforms, including the upcoming launch of iHeartRadio in Canada."
"Both Bell Media and Stingray recognize the tremendous potential for Canadian content services operated by broadcasters of all sizes. This transaction helps foster a more competitive broadcast environment and ultimately creates more choice for consumers by capitalizing on both companies' strengths."
Upon completion of the transaction, the channels will be rebranded by Stingray. The transaction is expected to close in Q3 2016. Financial terms will not be disclosed.
About Bell Media
With passion and an unrelenting commitment to excellence, Bell Media creates content and builds brands that entertain, inform, engage, and inspire audiences through the platforms of their choice. Bell Media is Canada's premier multimedia company with leading assets in television, radio, out-of-home advertising, and digital media. Bell Media owns 30 local television stations led by CTV, Canada's #1 television network; 34 specialty channels, including TSN and RDS, Canada's most-watched specialty channels in English and French; and four pay TV services, including The Movie Network and Super Écran. Bell Media is also Canada's largest radio broadcaster, with 106 licensed radio stations in 54 markets across Canada. Bell Media owns Astral Out of Home, one of Canada's most dynamic and innovative out-of-home advertising companies with a network of more than 30,000 advertising faces in British Columbia, Alberta, Ontario, Québec, and Nova Scotia. Bell Media also operates more than 200 websites; delivers TV Everywhere with premium subscription on-demand streaming service CraveTV, as well as its innovative GO video streaming services including CTV GO, Discovery GO, TMN GO, and TSN GO; operates multi-channel network Much Digital Studios; holds an equity stake in digital startup Hubub; is partners in Cirque du Soleil Media, a joint venture with Cirque du Soleil; and owns Dome Productions Inc., a multi-platform production company. Bell Media is part of BCE Inc. (TSX, NYSE: BCE), Canada's largest communications company. For more on Bell Media, please visit bellmedia.ca.
SOURCE Bell Media
For further information: Emily Young Lee, Bell Media, 416-384.2593 or [email protected]