Good news.....Bad news.  Good news first:   Bell has at least $211 M to pay Corus to shut down Movie Central/Encore Avenue Pay TV services.  Note they're not "buying" the channels, just paying Corus to shut them down....sort of.....

Bad News.  More broadcasting jobs will be lost (in Calgary?).....probably all staff who work for the Pay TV service will lose their jobs...

From Canada News Wire.

.Bell Media announces national expansion of The Movie Network, will become the sole operator of HBO Canada Bell Media to be the exclusive Canadian distributor of HBO content across all platforms in early 2016 MONTRÉAL, Nov. 19, 2015 /CNW/ - BCE Inc. (TSX, NYSE:  BCE) today announced that Bell Media will expand The Movie Network (TMN) into a national pay TV service and become the sole operator of HBO Canada, as Corus Entertainment winds down operations of its Movie Central and Encore Avenue pay TV services in Western and Northern Canada to focus on its core national media brands. "Bell Media now has the national scale required to create, negotiate and deliver more premium TV programming to Canadian consumers, across more platforms and more quickly than ever before," said Mary Ann Turcke, President of Bell Media. "Our extensive new content agreement with HBO also announced today, for both traditional TV and next-generation platforms like CraveTV and with significant original co-production opportunities, is a great example of the benefits for Canadian viewers nationwide." Corus is waiving its HBO content rights in Canada to allow Bell Media to become the sole operator of HBO Canada nationally across all platforms. TMN, formerly available only in Eastern Canada, will launch as a national pay TV platform in the first quarter of 2016, increasing its customer base to a total of approximately 2 million subscribers across the country. Bell and Corus are working together to support a seamless transition of Movie Central and Encore Avenue subscribers to TMN. BCE will pay Corus a consideration of $211 million, $195 million net of tax benefits, to support the national expansion of TMN and HBO Canada, equivalent to a valuation multiple of approximately 5.6x fiscal 2015 EBITDA of Movie Central and Encore Avenue after operational synergies are applied. Today, Bell Media also unveiled an unprecedented new partnership with HBO that offers Bell Media the flexibility to exclusively deliver all current and past HBO programming on its linear, on-demand and over-the-top (OTT) video streaming platforms like CraveTV in English and French across Canada. Bell Media announced earlier this year that CraveTV will be offered to all Canadians with an Internet subscription in January 2016. Caution concerning forward-looking statements
Certain statements made in this news release are forward-looking statements. These statements include, without limitation, statements relating to the proposed arrangement between BCE Inc. and Corus Entertainment Inc. relating to national pay TV services, the time period during which TMN is expected to be launched nationally, certain benefits expected to result from the above-mentioned proposed arrangement, BCE's plans and objectives, and other statements that are not historical facts. All such forward-looking statements are made pursuant to the "safe harbour" provisions of applicable Canadian securities laws and of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements, by their very nature, are subject to inherent risks and uncertainties and are based on several assumptions, both general and specific, which give rise to the possibility that actual results or events could differ materially from our expectations expressed in or implied by such forward-looking statements. As a result, we cannot guarantee that any forward-looking statement will materialize and we caution you against relying on any of these forward-looking statements. The forward-looking statements contained in this news release describe our expectations at the date of this news release and, accordingly, are subject to change after such date. Except as may be required by Canadian securities laws, we do not undertake any obligation to update or revise any forward-looking statements contained in this news release, whether as a result of new information, future events or otherwise. Forward-looking statements are provided herein for the purpose of giving information about the proposed arrangement referred to above and its expected impact. Readers are cautioned that such information may not be appropriate for other purposes. The completion of the above-mentioned proposed arrangement is subject to customary closing conditions, termination rights and other risks and uncertainties. Accordingly, there can be no assurance that the proposed arrangement will occur, or that it will occur on the terms and conditions currently contemplated by this news release. The proposed arrangement could be modified, restructured or terminated. There can also be no assurance that TMN will be launched nationally within the time period indicated in this press release nor that the benefits expected to result from the above-mentioned proposed arrangement will be fully realized. About BCE
Canada's largest communications company, BCE provides a comprehensive and innovative suite of broadband communication services to residential and business customers from Bell Canada and Bell Aliant. Bell Media is Canada's premier multimedia company with leading assets in television, radio, out of home and digital media, including CTV, Canada's #1 television network, and the country's most-watched specialty channels. To learn more, please visit BCE.ca. The Bell Let's Talk initiative promotes Canadian mental health with national awareness and anti-stigma campaigns, like Clara's Big Ride for Bell Let's Talk and Bell Let's Talk Day, and significant Bell funding of community care and access, research, and workplace initiatives. To learn more, please visit Bell.ca/LetsTalk. Media inquiries: Jacqueline Michelis
Bell Media Relations
613 785-1427
jacqueline.michelis@bell.ca
@Bell_News Investor inquiries:  Thane Fotopoulos
BCE Investor Relations
(514) 870-4619
thane.fotopoulos@bell.ca SOURCE  Bell Canada  

Last edited by tvguy (November 20, 2015 7:09 pm)

Interesting to see that longtime weather veteran Bob McIntyre, at CTV Two in Barrie (aka CKVR) has decided to retire, in order to save the job of at least one employee at the station. He's been there since 1972. More than a dozen others were let go in the purge, mostly off air. 

CTV Barrie hit by layoffs

It's also fascinating to read an article from a Ryerson prof. that appeared in the Star this weekend. Provocatively titled, "How much profit does Bell really need?" it makes a lot of points many here were expressing when the news broke.

"The company can argue, as it has, that the television industry is “evolving quickly,” so changes must be made. But it can’t argue that its newsrooms are stronger because there are fewer people working in them. Which means the news the rest of us need to know to be engaged and informed citizens is diluted." 

====

"Earlier this month, its parent company BCE reported its profits for the third quarter of this fiscal year: $791 million. That’s profit. In just three months.So let’s do some math.If each employee losing a job at Bell made $100,000 (and I’m pretty sure that’s much higher than the real figure) then the company is saving $30 million a year, or less than $8 million every three months.So its last quarterly profit would have been only $783 million.Isn’t that enough?"

The reaction to the article is equally of note. Many posters seem to have little sympathy for those affected by the cuts, taking the position that Bell has the right to rake in as much as it can. Anyway, both the story and the comments are worth a read.

How much profit does Bell really need? 

Are there no prisons? Are there no workhouses?

Welcome to the future of broadcasting - https://www.youtube.com/watch?v=45PgwV6dlLs
 

From The Toronto Star:

Mamas, don’t let your babies become sports reporters

Mark Elliot wrote:

Isn't progress wonderful!

Yes...my friend.  It's  a blast and a half.

Kinda takes the fun out of it.

[And really...it should be fun.  The audience can HEAR that.  Of course 'they' don't care much about the audience anymore.]
 

Paul Pedro, news anchor/reporter for many years at CKLW 800 Windsor was just fired by Bell...he was a CFRB community cruiser reporter in the late 90's and worked in Oshawa (CKDO) prior to moving to Windsor.

Last edited by Johnny B (December 5, 2015 12:41 am)

Of course, I didn't expect him to actually call out Bell, but to label the other company a "Grinch" when his own did the exact same thing - almost to the exact same number - seems pretty outrageous. If he left out the "Grinch" reference, it wouldn't have been quite so noticeable, egregious or hypocritical. 

 

"Though no fault of Pasceri, her tenure coincided with the decline of Channel 7’s news, which was brought about by mismanagement and running the news department on the cheap. "

We need columnists like this in Toronto again .

Leslieville Bill wrote:

A related story to the Ashley Rowe move:
Hammer, Pasceri departures raise delicate PR issues for Channels 2, 7
http://www.buffalonews.com/columns/alan-pergament/hammer-pasceri-departures-raise-delicate-pr-issues-for-channels-2-7-20151211