Bell Media Selling 45 Radio Stations
• BCE, Inc., the parent company of Bell Media, announced widespread layoffs and the sale of 45 of Bell Media’s 103 regional radio stations in British Columbia, Ontario, Quebec and Atlantic Canada. The news was shared by the Financial Post and other outlets.
Explaining the reasoning behind what he termed “a significant divestiture,” Bell Chief Legal & Regulatory Officer Robert Malcolmson bluntly noted, “It’s because it’s not a viable business anymore.” He added, “We will continue to operate ones that are viable, but this is a business that is going in the wrong direction.”
An open letter, signed by Chief Executive Mirko Bibic, said 4,800 jobs “at all levels of the company” would be cut. Fewer than 10% of the total job cuts are at Bell Media specifically.
Some employees have already been notified or were to be informed Thursday of being laid off, while the balance will be told by the spring. Bibic said the company will use vacancies and natural attrition to minimize layoffs as much as possible. The company declined to say how many of the total job cuts were at Bell Media specifically.
This marks the second major layoff at the media and telecommunications giant since last spring, when six per cent of Bell Media jobs were eliminated, and nine radio stations were either shuttered or sold.
In a separate internal memo, Bell Media President Sean Cohan said the company intends to divest 45 radio stations to seven buyers: Vista Radio, Whiteoaks, Durham Radio, My Broadcasting Corp., ZoomerMedia, Arsenal Media and Maritime Broadcasting. The sales are subject to CRTC approval and other closing conditions.
