MONTRÉAL, Feb. 12, 2020 /CNW
Telbec/ - At the Canadian Radio-television and Telecommunications
Commission (CRTC) public hearings on the acquisition of the
conventional television network V (V) and its digital assets by
Bell Media (Bell), Quebecor repeated its concerns about the
takeover's potentially serious impact on an already fragile
broadcasting system in its entirety. Quebecor called on the
authorities to categorically reject the transaction.
Highlights of the address by Pierre Karl Péladeau, President
and CEO of Quebecor :
ʺThe proposed acquisition is the missing piece in Bell's
portfolio of media properties. Commission approval would further
strengthen Bell's dominance of Canadian media and advertising
revenues, and cement its buying power vis-à-vis local and foreign
players. Bell is dominant from A to Z; all it's missing is V.ˮ
ʺAs we have repeated on many occasions, the Commission and the
industry must now contend with a company so dominant that it can no
longer be controlled. Bell has adopted the following logic and
course of action: in the relentless pursuit of profit, it is more
advantageous to pay fines and penalties than to comply with laws
and regulations. Therefore, fines and penalties are no longer
sufficient to constrain Bell, which can well afford to pay.ˮ
ʺNote that if the Commission approves this transaction, Bell
will control more than 48% of private conventional television
advertising revenues in Canada and
43% of total advertising revenues. This unparalleled dominance is
unsustainable in Canada's already
fragile advertising market.ˮ
ʺSince the prices and volumes of English-language content
acquisition in Canada are much
higher than for French-language content, Bell will use the
acquisition of English-language rights to force content providers
to bundle in French-language content, thereby bypassing any
competition in the French market.ˮ
ʺThis damaging acquisition is contrary to the public interest
and the objectives of the Broadcasting Act. Even the Public
Interest Advocacy Centre (PIAC) opposes this transaction, which
will undermine the information, news and diversity of voices that
are the foundation of a healthy democracy.ˮ
ʺIn fact, the time has come for regulatory and government
authorities to dismantle Bell before it is too late.ˮ
More info:
- Address by the President and CEO of Quebecor
- big-bell.ca microsite
- Quebecor's submission on the acquisition of V by Bell
(available in french only)
About Quebecor
Quebecor, a Canadian leader in
telecommunications, entertainment, news media and culture, is one
of the best-performing integrated communications companies in the
industry. Driven by their determination to deliver the best
possible customer experience, all of Quebecor's subsidiaries and
brands are differentiated by their high-quality, multiplatform,
convergent products and services.
Quebecor (TSX: QBR.A, QBR.B) is headquartered in Québec and
employs more than 10,000 people in Canada.
A family business founded in 1950, Quebecor is strongly
committed to the community. Every year, it actively supports more
than 400 organizations working in the vital fields of culture,
health, education, the environment and entrepreneurship.
Visit our website: www.quebecor.com
Follow us on Twitter: twitter.com/Quebecor
SOURCE Quebecor