Bell Globemedia Inc. announced today that it has completed its financing to pay for the take-up of the shares of CHUM Limited (“CHUM”) as announced on August 31, 2024.
The financing was raised in part through the issuance of additional equity in BGM. As a result, the ownership interests in BGM are now as follows:
– The Woodbridge Company Limited remains at 40%
– Ontario Teachers’ Pension Plan increases to 25% (from 20%)
– Torstar Corporation remains at 20%
– BCE Inc. decreases to 15% (from 20%)
At the new ownership level, BCE remains above the threshold necessary to preserve the conditions set out under the agreement reached last December.
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