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Full Press Release follows:

Bell Media welcomes its first Francophone conventional TV network along with the Noovo.ca digital platform

Bell Media today announced it has entered into an agreement with the shareholders of Groupe V Média to acquire conventional network V along with related digital assets including the ad-supported VOD service Noovo.ca. The transaction reinforces choice for French-language viewers, strengthens the Québec television ecosystem, and highlights Bell Media’s commitment to providing engaging content in Québec on traditional and innovative platforms. The transaction is subject to regulatory approvals; financial details were not disclosed.

“With today’s announcement Bell Media welcomes French-language conventional TV to its portfolio, creating more opportunities for viewers, advertisers, and content creators in Québec,” said Karine Moses, President, Bell Media Québec. “In a fast-changing ecosystem, we are excited to provide new opportunities for V with the guidance and expertise of our dedicated and experienced Montréal-based management, programming, and production teams. We look forward to continuing to work closely with the local Francophone production community in delivering highly engaging original programming on V. We salute Maxime Rémillard and his team for their work in bringing V to where it is now, and we thank them for trusting Bell Media to ensure the long-term legacy of the network.”

“After 10 years of ensuring V's success as an independent conventional channel, I am proud to have found in Bell Media a partner to ensure the continuity of this success,” said Maxime Rémillard, President and Founder, Groupe V Média. “The industry in which we are evolving is constantly, deeply and rapidly changing. This was true when we took over the reins of TQS and allowed the network to survive; it is all the more true today. As it is increasingly difficult to ensure the sustainability of a conventional channel within a non-integrated group, I have made the best decision for the future of V. Bell Media will certainly allow V to continue to evolve and reach out to the Québec public on a massive scale.”

With popular original programs such as Occupation double, L’amour est dans le pré, and Un souper presque parfait, V Média owns and operates television stations in Montréal, Québec, Saguenay, Sherbrooke, and Trois-Rivières, and has affiliate stations in Gatineau, Rivière-du-Loup and Val-d’Or. In addition to V and Noovo.ca, Groupe V Média currently operates specialty channels ELLE Fictions and MAX, which are not subject to the transaction.
 

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Bell use to own 40% of V (the other 60% was Cogeco) when it was TQS and let it fall into bankruptcy - so I find it odd when they could have bought it back then on the cheap.
 

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CRTC Press Release

Today, the CRTC authorized Bell Canada's application to acquire V Interactions and imposed conditions of licence to guarantee adequate levels of investments in local programming and original French-language Canadian programming.

The V Stations will have to broadcast 5 hours of local programming per week for the Montreal and Quebec City markets in 2020-2021. The number of hours will increase to 8 hours and 30 minutes in 2021-2022. The stations will also have to broadcast at least 5 hours of local programming per week for the Trois-Rivières, Saguenay and Sherbrooke markets.

The Bell Media Group will also be required to spend at least 40% of the previous year's revenues in Canadian programming and at least 18% of the previous year's revenues in programs of national interest. These new thresholds represent an increase since Bell Media's current threshold for Canadian programming expenditures is 35%, while the V stations' current threshold for programs of national interest is 10%.

The CRTC is also directing Bell to invest more than $3 million, which will be allocated to the Canada Media Fund and Bell Fund in equal annual payments over seven consecutive broadcast years.

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Broadcasting Decision CRTC 2020-116

The Commission approves, subject to modifications set out in this decision, an application by Bell Canada, on behalf of V Interactions inc., for authority to change the ownership and effective control of V Interactions inc. and to integrate, effective 1 September 2020, the V Stations into the French-language Bell Media Group.

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Bell Media Press Release
 
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