By Canadian Press

Local news cuts at Bell come after it was granted $40M in regulatory relief: St-Onge

Feb 8, 2024 | 2:29 PM

OTTAWA — Heritage Minister Pascale St-Onge is accusing Bell Media of breaking its promise to invest in local news after the company was granted more than $40 million in annual regulatory relief.

That’s the same amount the company says its news division, which includes CTV News and BNN Bloomberg, is losing annually. 

Facing $40 million in annual operating losses, Bell Media is cutting 4,800 jobs amid across-the-board cuts at parent company BCE Inc., which has higher overall operating revenue than a year ago. 

The company is laying the blame for cuts at the feet of regulators and policymakers. 

But St-Onge says the government has worked to help the news industry, and at some point companies have to chip in, too. 

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The Liberal government’s new Online Streaming Act came into effect last April and abolished certain licensing fees, which St-Onge says will save the company some $40 million a year. 

This report by The Canadian Press was first published Feb. 8, 2024. 

The Canadian Press