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Globemedia has solid quarter

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BCE Bell Canada
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Financial/Mergers & Acquisitions
TORONTO - It may infamously be "non-core" under the corporate hierarchy of parent company BCE, but Bell Globemedia continues to thrive and post positive results.

Third quarter revenues at Bell Globemedia (the 70%-owned division of Bell Canada Enterprises which operates CTV, the Globe and Mail, TSN, Report on Business Television, Animal Planet and other assets) were up 2% and operating income improved by 15%.

CTV had 17 of the top 20 regularly scheduled programs in the country during the summer period and Canadian Idol was once again a national phenomenon with viewership peaking at 4.2 million making it Canada's most watched, non-sports program for the second straight season and helping drive increased advertising revenues, said the third quarter press release issued earlier this week.

BGM's revenues came in at $302 million in the quarter and totalled just over $1 billion on a year-to-date basis reflecting growth of 2.0% and 2.7% respectively compared to the same periods last year.

Television advertising grew by 4.8% this quarter and by 8% on a year-to-date basis.

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