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Bell Media buys Corus channels

MIPCOM: Bell Media in Canada has agreed to buy French-language channels Séries+ and Historia from Corus Entertainment.

Doug Murphy

The deal, which is valued at about C$200m (US$159.8m), is subject to approval by the Canadian Radio-television and Telecommunications Commission and the Competition Bureau, but is expected to be completed midway through next year.

Doug Murphy, president and CEO of Corus Entertainment, said the sale would help balance the company’s finances following its acquisition of broadcaster Shaw Media for US$1.86bn in January 2016.

“As we reviewed our portfolio of assets this year, we determined that while Historia and Séries+ are excellent channels, they are not core to advancing Corus’s strategic priorities at this time,” Murphy said.

“Furthermore, the increased financial flexibility this transaction provides will enable Corus to accelerate our transformation into an industry-leading integrated media and content company.”

Séries+ is the most-watched fiction channel in Québec and offers locally produced drama, while Historia, which is in the top 10 for the 25-54 age bracket, also broadcasts local content spanning documentaries, reality series and drama.

Bell Media already operates 10 French-language channels in Québec, including Canal D, Canal Vie and Vrak. Its president, Randy Lennox, said the addition of Corus’s channels “perfectly complements” the company’s existing slate and enhances its competitiveness in the region.

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