[Toronto, CANADA] BCE, Thomson Corporation and The
Woodbridge Company today announced the creation of a premier
multimedia company combining some of Canada’s strongest media brands –
– CTV, The Globe and Mail, Globe Interactive, and Sympatico.
The synergy resulting from this integrated cluster of media and
content companies will generate far greater value together than as
separate entities.
The new company will be able to leverage the most impressive Canadian
presence on the Internet, reaching one-third of online Canadians with
more than 200 million page views per month.
Once Sympatico-Lycos’ Network of Web sites and Globe Interactive’s 9 sites
are brought together, the resulting resource will hold
undisputed leadership in providing local and national Canadian Web
content and resources.
BCE will own 70.1 percent of the new company and will contribute CTV and
associated properties including NetStar, its 71 percent interest in
Sympatico-Lycos and city sites such as Montrealplus.com and Toronto.com, and its 23 percent interest in
Extend Media, a company specializing in converging TV and Internet
content.
Thomson Corporation will own 20 percent of the new company and will kick in
the Globe and Mail, Globe Interactive (which includes 9 popular
Internet sites, including globeandmail.com, globeinvestor.com; and workopolis.com), and 50 percent of ROBTv,
Canada’s only specialty business news channel.
The Woodbridge Company will own 9.9 percent of the new company and will chip
in Cdn $385 (US $566) million.
The new company will be headquartered in Toronto and will employ
4,000 people in offices and news bureaus across Canada and projected
pro forma 2001 revenues of approximately Cdn $1.3 (US $1.9)
billion.
