The affected stations are in
The company announced Thursday in an open letter signed by chief executive
Some employees have already been notified or were to be informed Thursday of being laid off, while the balance will be told by the spring. Bibic said the company will use vacancies and natural attrition to minimize layoffs as much as possible.
It marks the second major layoff at the media and telecommunications giant since last spring, when six per cent of Bell Media jobs were eliminated and nine radio stations were either shuttered or sold.
In a separate internal memo, Bell Media president
"That's a significant divestiture. It's because it's not a viable business anymore," said Bell chief legal and regulatory officer
"We will continue to operate ones that are viable, but this is a business that is going in the wrong direction."
The company said fewer than 10 per cent of the total job cuts were at Bell Media specifically.
Malcolmson said Bell Media is in the midst of a "digital transformation" for both entertainment and news.
But whether or not prioritizing digital growth is viable for the company in terms of generating profit remains to be determined.
"We're investing in it; we'll see," said Malcolmson. "Without some form of regulatory supports, it's tough."
He blamed the federal government for taking too long to provide relief for media companies as well as the CRTC for being too slow to react to a "crisis that is immediate."
That extends to two pieces of legislation intended to help
"In practice, it's not going to do anything. It's underwhelming to say the least," said Malcolmson.
"We've been advocating for reform for years. It's not coming fast enough and when it does come, it doesn't provide meaningful help."
Thursday's job losses at Bell Media are also directly tied to regulator direction on Bill C-11, Malcolmson said.
The CRTC held a hearing late last year exploring whether streaming services should be asked to make an initial contribution to the Canadian content system to help level the playing field with local companies. The commission hopes to implement new rules in late 2024.
But the Bell executive said the company needs immediate relief, which could come from a fund it has proposed that would see streamers subsidize local or national news.
"We hope they do that but we can't wait two years for that to happen, so then you see actions like this today," he said.
Bell has fought other regulatory decisions over the past year that it says makes things harder for its struggling broadcast division.
That includes an October application to the
Bell Media's advertising revenues declined by
On Thursday, Bell said it could also further scale back network investments on its telecom side as it remains at odds with the CRTC over what it calls "predetermined" regulatory direction.
Asked about the company's image in light of continued cuts, Malcolmson noted the size of Bell's executive team has been reduced in recent years and executive salaries remain frozen.
"We have a duty both to our shareholders and to our employees to make sure we manage the business in a rational way," he said.
List of divested Bell Media radio stations (New owner)
CHOR,
CJAT,
CKKC,
CKGR,
CKXR,
CKCR,
CJMG,
CKOR,
CJOR,
CICF,
CHSU,
CILK,
CKFR,
CKNL,
CHRX,
CJDC,
CKRX,
CFTK,
CJFW,
CHTK,
CKTK,
CKLH,
CHRE,
CHTZ,
CKTB,
CKLY,
CKPT,
CKQM,
CFJR,
CJPT,
CFLY,
CKLC,
CJOS,
CHRD,
CJDM,
CFEI,
CFZZ,
CIKI,
CJOI,
CFVM,
CIKX,
CJCJ,
CKBC,
CKTO,
CKTY,
This report by The Canadian Press was first published
Companies in this story: (TSX:BCE)
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