BCE, the Canadian telecoms company, and the Thomson media dynasty have created a C$4 billion multimedia company.
The alliance will embrace the Sympatico internet portal and the TV firm CTV, both owned by BCE, and Thomson’s Globe and Mail newspapers.
“This partnership strengthens BCE's content strategy by creating an unparalleled group of leading print, broadcast and internet brands” claimed BCE chief executive Jean Monty.
The move follows Quebecor’s takeover of cable TV group Videotron.
BCE will have a 70.1% stake in the new company, the Thomson Corporation 20%, and Woodbridge, the Thomson family’s holding company, 9.9%.
News source: Financial Times