Bell asks CRTC to drop local news requirements after mass layoffs
TORONTO – The media arm of BCE Inc. asks the federal telecommunications regulator to waive local news requirements for its television stations because its obligations are based on outdated market realities.
In a filing with the CRTC, Bell Media is requesting the removal of requirements for spending on local news and for the number of hours per week stations need to broadcast locally reflective news in markets large and small.
The filing, filed on June 14, came on the same day Bell announced it would cut 1,300 jobs, close or sell nine radio stations and close two foreign offices amid plans to “significantly change” the way it delivers the news. in the face of growing financial pressures.
Bell Media’s average annual operating loss was $28.4 million between 2016 and 2019, a figure that rose to $40 million last year as web giants conquered the Canadian advertising market.
Bell says the CRTC’s implementation of the Online Streaming Act has the potential to provide relief to media companies through compensation from online streaming giants, but it cannot afford to wait for the outcome of the regulator’s consultations on the law.
Last week’s layoffs included a six percent cut at Bell Media.
This report from The Canadian Press was first published on June 23, 2023.
Companies in this story: (TSX:BCE)
