BCE posts higher earnings ahead of CTV takeover
The company's Q4 report shows TV revenue up 8%.
On Thursday, BCE posted fourth quarter earnings up sharply, predictably on the strength of its main wireless phone business.
But with the phone giant about to acquire control of CTV, BCE’s TV revenues got more than a passing glance as it looks for video content to drive down its expanding platforms, including conventional and specialty TV, mobile and the internet.
BCE posted a profit of $439 million, against year-earlier earnings of $350 million, on total revenue edging up slightly from $4.65 billion to $4.68 billion.
In that revenue line was TV revenue rising 8% to $450 million as Bell TV added to its subscriber base.
BCE currently has around two million TV subscribers.
The phone giant’s financial guidance for 2011 does not include a contribution from CTV, and will be revised on completion of the transaction to acquire a remaining 85% stake in the broadcaster that BCE does not already own.
From Playback Daily