GATINEAU – The CRTC expedited the release of its decisions on two broadcast transactions, announcing today Bell Media can proceed with its purchase of the V television network and Leclerc Communications can purchase CJPX-FM Montreal.
The specific rationale behind each decision is not ready for release and the announcement notes they will be available at a later date.
First the Bell-Groupe-V approval (which was a deal valued at $20 million, for the five off-air TV stations, when announced):
The conditions on Bell’s acquisition will “guarantee adequate levels of investments in local programming and original French-language Canadian programming,” says the press release.
- The V Stations will have to broadcast five hours of local programming per week for the Montreal and Quebec City markets in 2020-2021. The number of hours will increase to eight-and-a-half hours in 2021-2022.
- The stations will also have to broadcast at least five hours of local programming per week for the Trois-Rivières, Saguenay and Sherbrooke markets.
Bell 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, reads the release. “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 has also told Bell it must invest more than $3 million to be allocated to the Canada Media Fund and Bell Fund in equal annual payments over seven consecutive broadcast years. The February hearing was a contentious one when Quebecor Media Pierre Karl Péladeau spoke, calling Bell a “menace.”
The sellers are Remstar (45.14%), Fiducie Seismikmax (9.86%), Caisse de Dépôt et de Placement du Québec (15%), Fonds de Solidarité des travailleurs du Québec (15%), and Investissement Québec (15%). Maxime Rémillard, through Remstar and Seismikmax exercises effective control of the company.
Rémillard will retain control Groupe V specialty channels ELLE Fictions (formerly MusiquePlus) and MAX (formerly Musimax), which are not part of the transaction. However the Groupe V’s ad-supported VOD portal noovo.ca was also sold to Bell – and not subject to regulatory approval.
With the Leclerc approval (a transaction valued at $3.88 million when announced), the Commission also authorized an amendment to CJPX-FM Montreal’s licence so it can change format from specialty classical music to mainstream music. “The format proposed by Leclerc will allow many French Canadian artists, especially emerging artists, to increase their visibility,” says the CRTC release.
The Commission also directed Leclerc to pay tangible benefits amounting to more than $290,000.
Leclerc Communication currently owns two French-language commercial FM radio stations in the Quebec City market: CJEC-FM (WKND 91.9) and CFEL-FM (BLVD 102.1).
