View source for BCE Inc.

{{Short description|Canadian telecommunications and media company}}
{{About|the parent holding company Bell Inc|the telecommunications company|Bell Canada|the media company|Bell Media|mobile/cellular|Bell Mobility}}
{{Use mdy dates|date=June 2024}}
{{Use Canadian English|date=June 2024}}
{{Infobox company
| name = BCE Inc.
| former_names = Bell Canada Enterprises Inc. (1983-1988)
| logo = BCE_Inc_Logo.svg
| type = [[Public company|Public]]
| traded_as = {{Unbulleted list|{{tsx|BCE}}|{{nyse|BCE}}|[[S&P/TSX 60|S&P/TSX 60 component]]}}
| industry = {{ubl|[[Telecommunication]]s|[[Mass media]]}}
| key_people = {{Unbulleted list| [[Mirko Bibic]] ([[President (corporate title)|president]] & [[Chief executive officer|CEO]])| Glen LeBlanc ([[Chief financial officer|CFO]] & vice chair, Atlantic Canada)}}
| products = {{ubl|[[Landline|Fixed line]] and [[mobile phone|mobile telephony]]|[[Internet]] services|[[Digital television]]|[[Radio broadcasting]]|Print}}
| revenue = {{increase}} {{CAD}}24.673 billion (2023)<ref name="2023 Annual Financial Report">{{cite web|url=https://bce.ca/investors/AR-2023/2023-bce-annual-financial-report.pdf|title=2023 Annual Financial Report|access-date=November 26, 2024}}</ref>
| operating_income = {{increase}} {{CAD}}10.417 billion (2023)<ref name="2023 Annual Financial Report" />
| net_income = {{decrease}} {{CAD}}2.327 billion (2023)<ref name="2023 Annual Financial Report" />
| assets = {{increase}} {{CAD}}71.940 billion (2023)<ref name="2023 Annual Financial Report" />
| num_employees = {{increase}} 45,132 (2023)<ref name="2023 Annual Financial Report" />
| parent =
| subsid = {{ubl|[[Bell Canada]]|[[Bell Media]]|Bell Technical Solutions|[[Maple Leaf Sports & Entertainment]] (37.5%)|[[Bell Mobility]]|[[Bell Aliant]]|[[Virgin Plus]]|[[Bell Internet]]|[[Bell Satellite TV]]|[[Bell Fibe TV]]|[[Fibe (Bell Aliant)|Fibe]]|[[Bell MTS]]|[[Lucky Mobile]]|[[The Source (retailer)|The Source]] (Rebranded as [[Best Buy]] Express) |[[Glentel Inc.]]  (50%)|[[Northwestel]]}}
| foundation = {{Start date and age|1983}}
| location = [[Verdun, Quebec]], Canada<ref>"Contact Us." Contact Us {{!}} BCE Inc. Accessed February 25, 2021. https://www.bce.ca/contact-us.</ref>
| homepage = {{URL|https://www.bce.ca/|bce.ca}}
}}
'''BCE Inc.''', an abbreviation of its former name '''Bell Canada Enterprises Inc.''', is a [[publicly traded]] [[Canada|Canadian]] [[holding company]] for [[Bell Canada]], which includes [[telecommunication]]s providers and various [[mass media]] assets under its subsidiary [[Bell Media|Bell Media Inc]].<ref>{{Cite web|title=BCE Inc. Corporate Structure|url=https://crtc.gc.ca/ownership/eng/cht143.pdf|date=October 4, 2019|website=CRTC|access-date=May 8, 2020}}</ref> Founded through a corporate reorganization in 1983, when Bell Canada, [[Northern Telecom]], and other related companies all became subsidiaries of Bell Canada Enterprises Inc., it is one of Canada's largest corporations. The company is headquartered at 1 Carrefour Alexander-Graham-Bell<ref>{{Cite web|title=BCE Inc. Corporate headquarters|url=https://www.bce.ca/contact-us|access-date=June 17, 2020|website=bce.ca|language=en}}</ref> in the [[Verdun, Quebec|Verdun]] borough of [[Montreal]], [[Quebec]], Canada.
BCE Inc. is a component of the [[S&P/TSX 60]] and is listed on the [[Toronto Stock Exchange]] and the American-based [[New York Stock Exchange]]. It was ranked as Canada's 17th largest corporation by revenue as of June 2014,<ref>[https://financialpost.com/news/fp500/2014/index.html FP500: 2014]. Retrieved March 6, 2016 [https://web.archive.org/web/20140618011007/http://www.financialpost.com/news/fp500/2014/index.html Archived] June 18, 2014</ref> and as the ninth-largest by capitalization as of June 2015.<ref>[https://canadianbusiness.com/lists-and-rankings/best-stocks/investor-500-2015-canadas-biggest-15-companies-by-market-cap/ Investor 500 2015: ''Canada's Biggest 15 companies by market cap'', Canadian Business, June 16, 2015] {{Webarchive|url=https://web.archive.org/web/20160308122922/http://www.canadianbusiness.com/lists-and-rankings/best-stocks/investor-500-2015-canadas-biggest-15-companies-by-market-cap/ |date=March 8, 2016 }}.  Retrieved March 6, 2016</ref>
==History==
[[File:BellCanada1902.png|thumb|Logo used by the Bell Telephone Company of Canada from 1902 to 1922]]
The Bell Telephone Company of Canada Ltd. was created by an [[act of Parliament]] on April 29, 1880.<ref>{{Cite web |title=Bell Canada Enterprises Inc {{!}} The Canadian Encyclopedia |url=https://www.thecanadianencyclopedia.ca/en/article/bell-canada-enterprises-inc |access-date=March 29, 2023 |website=thecanadianencyclopedia.ca}}</ref> Later known as Bell Canada, its charter granted it the right to construct telephone lines alongside all public rights-of-way in Canada. Under a licensing agreement with the US-based [[Bell Telephone Company|American Bell Telephone Company]], Bell also manufactured telephones and telephone equipment, an activity that would be spun off in a separate company that later became Northern Telecom and then [[Nortel Networks]].
In 1983, all of the Bell Canada group of companies (also known as the "Bell Group") were placed under a new holding company, Bell Canada Enterprises Inc. (BCE).<ref>{{Cite web |last=chcom |date=August 31, 2020 |title=BCE Inc. |url=https://www.companieshistory.com/bce-inc/ |access-date=March 29, 2023 |website=CompaniesHistory.com - The largest companies and brands in the world |language=en-US}}</ref> This corporate reorganization resulted in Bell Canada and its subsidiaries, including Northern Telecom (later Nortel Networks) and over 80 others, becoming subsidiaries of the new holding company, BCE. Under the new parent, each company was owned directly by BCE, which had the benefit of freeing the manufacturing company, Nortel, and other holdings from the heavily regulated telephone company, Bell Canada. Under a variety of leaders, BCE has embarked on a series of [[Diversification (marketing strategy)|diversifications]], [[Consolidation (business)|consolidations]], and [[Strategic management|corporate strategies]].<ref>[https://www.thecanadianencyclopedia.ca/en/article/bell-canada-enterprises-inc Bell Canada Enterprises, The Canadian Encyclopedia]. Retrieved March 6, 2016</ref> In 1988, Bell Canada Enterprises was shortened to BCE Inc.
===Diversification and expansion===
In 1983, [[A. Jean de Grandpré]], chairman of Bell Canada, was appointed as the first chairman and [[chief executive officer]] (CEO) of BCE.<ref>[https://www.upi.com/Archives/1983/04/29/Bell-Canada-Enterprises-Inc-has-become-the-new-parent/8282420436800/ ''Bell Canada Enterprises Inc. has become the new parent...'', UPI, April 29, 1983].  Retrieved March 6, 2016</ref> The company soon embarked on a major diversification into property development, the energy sector, financial services, and other sectors. Within a few years, it became the first Canadian company to report {{CAD|1 billion|link=yes}} in profits.
When [[Jean Monty]] assumed the job of CEO in 1998, he pursued a convergence strategy, attempting to combine both content creation and distribution within BCE, and to take greater advantage of the emerging Internet market. BCE's acquisition in 2000 (and subsequent financing) of overseas carrier [[Teleglobe]] cost billions of dollars. BCE sold Teleglobe two years later; Jean Monty resigned and was succeeded by [[Michael Sabia]] as CEO.<ref>{{cite web
| last = Macklem
| first = Katherine
| title = Monty quits as BCE CEO
| publisher = Maclean's Magazine
| date = May 6, 2002
| url = https://www.thecanadianencyclopedia.ca/en/article/monty-quits-as-bce-ceo
| archive-url = https://web.archive.org/web/20070930065404/http://www.thecanadianencyclopedia.com/index.cfm?PgNm=TCE&Params=M1SEC677092
| url-status = live
| archive-date = September 30, 2007
| access-date = June 29, 2007
}}</ref><ref>{{cite news| url=https://www.forbes.com/2002/04/25/0425monty.html | work=Forbes | title=BCE Backs Away From The Full Monty | date=April 25, 2002 | first=Mark | last=Lewis}}</ref>
===Refocus on core business===
Michael Sabia refocused BCE on its core telecommunications business, prompting BCE to buy back the 20% share in Bell Canada that it had sold in 1999 to [[Ameritech]] (later acquired by [[SBC Corporation]]).<ref>{{cite press release
|title=BCE to Own 100 per cent of Bell Canada
|publisher=BCE, Inc.
|date=June 28, 2002
|url=https://www.bce.ca/en/news/releases/bce/2002/6/28/69087.html
|access-date=June 29, 2007
|url-status=dead
|archive-url=https://web.archive.org/web/20070921172540/http://www.bce.ca/en/news/releases/bce/2002/6/28/69087.html
|archive-date=September 21, 2007
}}</ref> BCE also spun off operating units that it did not consider to be core to its business, including [[Emergis]] in 2004, and [[CTVglobemedia|Bell Globemedia]] and [[Telesat Canada]] in 2006.
On February 1, 2006, stating the need to remain competitive, Bell Canada announced job cuts of 3,000 to 4,000 employees by the end of 2006.<ref>{{Cite news|url=https://www.cbc.ca/news/business/bell-canada-cuts-471-ontario-jobs-1.589239|title=Bell Canada cuts 471 Ontario jobs {{!}} CBC News|work=CBC|access-date=September 29, 2018|language=en-US}}</ref>
On April 28 that year, BCE announced that CEO Michael Sabia was taking a 455% pay increase; his salary being raised from {{CAD|1.21 million}} to $6.71 million. The pay included a $1.25 million salary, a $2.2 million bonus that Sabia converted to deferred share units, a long-term incentive payout of $3 million and other compensation, the filing shows. Bell Canada also posted record revenue increases for the previous fiscal year.{{Citation needed|date=September 2018}}
Under pressure from [[investors]], on October 11, 2006, BCE announced it would be wound down, with its remaining assets converted to an [[income trust]] so its income could be distributed directly to [[shareholders]] through [[dividends]], avoiding [[corporate taxes]].<ref>{{Cite news|url=https://www.cbc.ca/news/business/bell-canada-to-convert-to-income-trust-1.580316|title=Bell Canada to convert to income trust {{!}} CBC News|work=CBC|access-date=September 29, 2018|language=en-US}}</ref> The new entity was planned to be named "Bell Canada Income Fund". As part of this restructuring, Bell Aliant offered to take Bell Nordiq private, while remaining separate from the new Bell trust.<ref>[http://www.cnw.ca/en/releases/archive/October2006/11/c6730.html BCE to be wound down, Bell Canada to convert to income trust] {{webarchive|url=https://web.archive.org/web/20080617131549/http://www.cnw.ca/en/releases/archive/October2006/11/c6730.html |date=June 17, 2008 }}, BCE press release, October 11, 2006</ref> Due to [[Income trust#Canada|announced changes in taxation law]] by the Canadian federal government, on December 12, 2006, BCE announced it would not proceed with its planned conversion to an income trust.<ref>[https://www.theglobeandmail.com/news/national/bce-dies-bell-lives-as-trust/article18174524/ ''BCE dies Bell lives as trust'', The Globe and Mail, Oct. 12, 2006]. Retrieved March 6, 2016</ref><ref>[https://o.canada.com/montrealgazette/news/business/story.html?id=beaeacf6-31e2-40cb-9e5c-66ab290453e2 BCE drops its income-trust plan, Montreal Gazette, December 13, 2011].  Retrieved March 6, 2016</ref> It then started planning a restructuring that would have eliminated the BCE holding company,<ref>{{cite press release
| title = Bell announces 2007 business outlook&nbsp;— Improving revenue and EBITDA growth in 2007 guidance
| publisher = BCE, Inc.
| date = December 12, 2006
| url = https://www.bce.ca/news-and-media/releases/show/bell-announces-2007-business-outlook-improving-revenue-and-ebitda-growth-in-2007-guidance?page=2&month=12&year=2006
| access-date = January 11, 2007 | archive-url= https://web.archive.org/web/20070127225232/http://www.bce.ca/en/news/releases/corp/2006/12/12/74065.html| archive-date= January 27, 2007 | url-status= live}}</ref><ref>{{cite web
| title = United States SEC filing, June 12, 2007, Form 6-K
| publisher = Securities and Exchange Commission
| date = June 12, 2007
| url = https://www.secinfo.com/d16Vm2.uv.htm
| access-date = June 30, 2007
}}</ref> but this was put on hold when the company began attracting [[takeover]] bids.
In February 2021, and in line with the growing importance of 5G wireless networks, BCE announced the launch of the largest investment program in its history to double the proportion of Canadians covered.<ref>{{Cite web|last=|first=|date=February 4, 2021|title=bce-boosts-capital-spending-by-up-to-1-2b-plans-to-double-5g-coverage|url=https://www.bnnbloomberg.ca/bce-boosts-capital-spending-by-up-to-1-2b-plans-to-double-5g-coverage-1.1558899|access-date=|website=}}</ref>
===Proposed takeover===
Due to its stagnant [[share price]], starting in April 2007, BCE was courted for acquisition by pension funds and private equity groups, including a consortium led by the [[Canada Pension Plan]] Investment Board (with [[Kohlberg Kravis Roberts]] as one of the participants), a consortium led by the [[Ontario Teachers' Pension Plan]] (OTPP), and a consortium that included [[Cerberus Capital Management]].<ref>{{cite web
|title=Telus's exit likely to pull down price of BCE bids
|publisher=Reuters
|date=June 27, 2002
|url=http://www.globeinvestor.com/servlet/story/ROC.20070627.2007-06-27T170950Z_01_N27295009_RTRIDST_0_BUSINESS-BCE-BIDS-COL/GIStory/
|access-date=June 29, 2007
|url-status=dead
|archive-url=https://web.archive.org/web/20070927174353/http://www.globeinvestor.com/servlet/story/ROC.20070627.2007-06-27T170950Z_01_N27295009_RTRIDST_0_BUSINESS-BCE-BIDS-COL/GIStory/
|archive-date=September 27, 2007
}}</ref> On June 30, 2007, BCE accepted a bid of $42.75 per share in cash, for a total valuation of $51.7 billion, from the group led by the OTPP, and including [[Providence Equity Partners]], [[Madison Dearborn Partners]], [[Merrill Lynch]] Global Private Equity, and [[Toronto-Dominion Bank]]. The proposed deal would have been the largest acquisition in Canadian history and the largest [[leveraged buyout]] ever.<ref name="CanWest-BCETeachers">{{cite web
|title=Teachers win BCE bid
|publisher=CanWest News service
|date=June 30, 2007
|url=https://o.canada.com/ottawacitizen/news/story.html?id=86dacb18-6f44-4c27-9c38-27e9e48f247b&k=2695
|access-date=June 30, 2007
|url-status=dead
|archive-url=https://web.archive.org/web/20071206115626/http://www.canada.com/ottawacitizen/news/story.html?id=86dacb18-6f44-4c27-9c38-27e9e48f247b&k=2695
|archive-date=December 6, 2007
}}</ref><ref name="NYT-banks">{{Cite news
| last1 = Sorkin
| first1 = Andrew Ross
| last2 = de la Merced
| first2 = Michael J.
| title = Banks' Terms Imperil Deal to Buy Out Bell Canada
| newspaper = The New York Times
| date = May 19, 2008
| url = https://www.nytimes.com/2008/05/19/business/worldbusiness/19deal.html
}}</ref>
The deal was approved by BCE shareholders,<ref>{{cite news
|title=BCE holders approve giant buyout
|publisher=Toronto Star
|date=September 22, 2007
|url=https://www.thestar.com/printArticle/259285
|archive-url=https://web.archive.org/web/20071201110321/http://www.thestar.com/printArticle/259285
|archive-date=December 1, 2007
|access-date=October 1, 2007
|url-status=dead
}}</ref>
[[Quebec Superior Court]]<ref name="CBC-QSCApproval">{{cite news
| author = CBC News
| title = Quebec court OK's BCE takeover, dismisses bondholders' complaints
| publisher = [[Canadian Broadcasting Corporation]]
| date = March 7, 2008
| url = https://www.cbc.ca/news/business/quebec-court-ok-s-bce-takeover-dismisses-bondholders-complaints-1.706555
| access-date = June 20, 2008
| archive-url= https://web.archive.org/web/20080508210334/http://www.cbc.ca/money/story/2008/03/07/bce-ruling.html| archive-date= May 8, 2008 | url-status= live}}</ref>
(whose ruling was overturned by the [[Quebec Court of Appeal]],<ref name="NYT-QuebecCourt">{{Cite news
| last = Austen
| first = Ian
| title = Bell Canada Takeover Is Blocked
| newspaper = The New York Times
| date = May 22, 2008
| url = https://www.nytimes.com/2008/05/22/business/worldbusiness/22bce.html
}}</ref> but was later upheld by the [[Supreme Court of Canada]]<ref name="CP-SupremeApproval">{{cite web|last=Beltrame |first=Julian |title=Supreme Court approves BCE deal |publisher=The Canadian Press |date=June 20, 2008 |url=https://www.canoe.ca/canada-supreme-court-approves-bce-deal/ |access-date=June 20, 2008 |url-status=usurped |archive-url=https://archive.today/20081004235833/http://cnews.canoe.ca/CNEWS/Canada/2008/06/20/5941106-cp.html |archive-date=October 4, 2008 }}</ref>),
and the CRTC, subject to certain conditions for its corporate governance structure to ensure that Bell remained under Canadian control.<ref name="CNW-CRTC-approval">{{cite web
| title = CRTC approves BCE purchase with conditions
| publisher = CNW Group
| date = March 27, 2008
| url = https://www.newswire.ca/en/releases/archive/March2008/27/c7841.html
| access-date = April 3, 2008}}</ref>
(See ''[[BCE Inc v 1976 Debentureholders]]'' for further information).
Due to the tightening of the [[credit market]] caused by the [[subprime mortgage crisis]], the investment banks financing the deal – led by [[Citigroup]], [[Deutsche Bank]] and the [[Royal Bank of Scotland]] – started negotiations on May 16, 2008, to revise the terms of their loans with greater interest rates and greater restrictions to protect themselves.<ref name="NYT-banks" /> On July 4, 2008, BCE announced that a final agreement had been reached on the terms of the purchase,<ref name="BCE-2008FinalAgreement">{{cite press release
| title = BCE and Purchaser Enter Into Final Agreement Financing and Credit Agreements Signed
| publisher = BCE, Inc.
| date = July 4, 2008
| url = https://www.bce.ca/news-and-media/releases/show/bce-and-purchaser-enter-into-final-agreement-financing-and-credit-agreements-signed?page=2&month=7&year=2008
| access-date = August 7, 2008
| archive-date = August 1, 2008
| archive-url = https://web.archive.org/web/20080801051817/http://www.bce.ca/en/news/releases/corp/2008/07/04/74793.html
| url-status = dead
}}</ref> with all financing in place, and Michael Sabia left BCE, with [[George A. Cope|George Cope]] assuming the position of CEO on July 11.<ref name="2008NewCEO-PR">{{cite press release
| title = George Cope appointed to the boards of directors and as CEO of BCE Inc. and Bell Canada
| publisher = BCE
| date = July 11, 2008
| url = https://www.bce.ca/news-and-media/releases/show/george-cope-appointed-to-the-boards-of-directors-and-as-ceo-of-bce-inc-and-bell-canada?page=1&month=7&year=2008
| access-date = July 11, 2008
| archive-url = https://web.archive.org/web/20080721042212/http://www.bce.ca/en/news/releases/corp/2008/07/11/74806.html
| archive-date = July 21, 2008
| url-status = dead
}}</ref>
On November 26, 2008, BCE announced that [[KPMG]] had informed BCE that it would not be able to issue a statement on the solvency of the company after its [[privatization]], one of the required conditions of the buyout. As a result, the purchase was cancelled.<ref name="CBC-BuyoutCancelled">{{cite news
| author = CBC News
| title = BCE takeover deal dead as fight looms over $1.2B breakup fee
| publisher = [[Canadian Broadcasting Corporation]]
| date = December 11, 2008
| url = https://www.cbc.ca/news/business/bce-takeover-deal-dead-as-fight-looms-over-1-2b-breakup-fee-1.705382
| access-date = January 3, 2009 }}</ref><ref name="BCE-solvencyTest">{{cite press release
| title = BCE statement regarding privatization transaction
| publisher = BCE, Inc.
| date = November 26, 2008
| url = https://www.bce.ca/news-and-media/releases/show/bce-statement-regarding-privatization-transaction?page=1&month=11&year=2008
| access-date = December 3, 2008
| archive-date = January 29, 2009
| archive-url = https://web.archive.org/web/20090129221625/http://www.bce.ca/en/news/releases/corp/2008/11/26/75050.html
| url-status = dead
}}</ref>
===Expanding again into mass media===
[[File:CTV Antenna Byward Market Ottawa (36419322222).jpg|thumb|A Bell Media/CTV antenna in Ottawa, 2010. BCE Inc. gained full control of [[CTVglobemedia]] in 2010.]]
With [[Shaw Communications]] purchasing the [[Global Television Network]], [[Vidéotron]] launching its wireless telephone network with video content as a key selling point,<ref name="CTV-Bell-Bet">{{Cite news
| last = Marlow
| first = Iain
| title = Bell's Big Bet
| publisher = The Globe and Mail
| date = September 10, 2010
| url=  https://www.theglobeandmail.com/globe-investor/bells-big-bet/article1703448/
| access-date = September 11, 2010
| location=Toronto| archive-url= https://web.archive.org/web/20100913134643/http://www.theglobeandmail.com/globe-investor/bells-big-bet/article1703448/| archive-date= September 13, 2010 | url-status= live}}</ref> and the enormous popularity of wireless and Internet video and other media streams at the [[2010 Winter Olympics|2010 Vancouver Olympics]],<ref name="Bell-Vancouver-Olympics-multimedia">{{Cite news
| last = McNish
| first = Jacquie
|author2=Paul Waldie
| title = Olympic moment turned Bell CEO into champion for mobile media
| publisher = The Globe and Mail
| date = September 11, 2010
| url = https://www.theglobeandmail.com/news/national/olympic-moment-turned-bell-ceo-into-champion-for-mobile-media/article1703769/
| access-date = September 11, 2010
| location=Toronto| archive-url= https://web.archive.org/web/20100913134914/http://www.theglobeandmail.com/news/national/olympic-moment-turned-bell-ceo-into-champion-for-mobile-media/article1703769/| archive-date= September 13, 2010 | url-status= live}}</ref> Bell once again sought to bring a content provider into its portfolio. In September 2010, Bell announced a deal to reacquire full control of the broadcasting properties owned by [[CTVglobemedia]] including the [[CTV Television Network]]. Bell also obtained a 15% interest in ''[[The Globe and Mail]]'', CTVglobemedia's other major asset, with the remaining 85% owned by the [[The Woodbridge Company|Thomson family]].<ref name="CTV-purchase">{{Cite news
| last = Marlow
| first = Iain
| title = BCE-CTV deal remakes media landscape
| publisher = The Globe and Mail
| date = September 10, 2010
| url = https://www.theglobeandmail.com/globe-investor/bce-ctv-deal-remakes-media-landscape/article1702385/
| access-date = September 11, 2010
| location=Toronto| archive-url= https://web.archive.org/web/20100913122024/http://www.theglobeandmail.com/globe-investor/bce-ctv-deal-remakes-media-landscape/article1702385/| archive-date= September 13, 2010 | url-status= live}}</ref>
Through this acquisition, Bell responded to an increasing trend away from traditional cable and satellite delivery channels and towards new [[digital distribution|distribution]] methods over the Internet and wireless networks.<ref name="CTV-purchase-analysis">{{Cite news
| last = DeCloet
| first = Derek
| title = The new convergence: A lot like the old version but much, much cheaper
| publisher = The Globe and Mail
| date = September 10, 2010
| url = https://www.theglobeandmail.com/report-on-business/commentary/derek-decloet/the-new-convergence-a-lot-like-the-old-version-but-much-much-cheaper/article1702799/
| access-date = September 11, 2010
| location=Toronto| archive-url= https://web.archive.org/web/20100913120117/http://www.theglobeandmail.com/report-on-business/commentary/derek-decloet/the-new-convergence-a-lot-like-the-old-version-but-much-much-cheaper/article1702799/| archive-date= September 13, 2010 | url-status= live}}</ref>
The CRTC approved the transaction in March 2011.<ref name="CRTC-approval">{{cite web
|author=Canadian Press
|title=CRTC approves BCE's purchase of CTVglobemedia
|publisher=CTV.ca
|date=March 7, 2011
|url=https://www.ctvnews.ca/crtc-approves-bce-s-purchase-of-ctvglobemedia-1.615461
|access-date=May 23, 2011
|archive-url=https://web.archive.org/web/20110629044310/http://www.ctv.ca/CTVNews/TopStories/20110307/crtc-approves-ctvglobemedia-purchase-by-bce-110307/
|archive-date=June 29, 2011 |url-status=live
}}</ref>
In 2016, BCE announced that it had entered an agreement to acquire [[Manitoba Telecom Services]] (MTS) in a transaction worth $3.9 billion. The deal was approved by both companies' shareholders and [[boards of directors]], and closed in March 2017 after the [[Competition Bureau]] and other agencies approved of the acquisition.<ref>{{cite news|last1=Jackson|first1=Emily|date=March 17, 2017|title=Bell MTS deal closes, kicking off $1-billion investment that brings 4G to Churchill, Manitoba|url=https://financialpost.com/technology/bell-mts-deal-closes-kicking-off-1-billion-investment-with-4g-in-churchill-manitoba?r|access-date=February 28, 2021|newspaper=The Financial Post}}</ref>
=== Cuts and changes in business strategies ===
In June 2023, BCE announced that it was cutting 1,300 positions across its telecom and media operations (around three per cent of its workforce, and of which approximately 30% were unfilled vacancies), including six per cent of positions at Bell Media (which had 5,645 employees at the end of 2022).<ref name="cp-cuts-2023">{{Cite web |last=Hudes |first=Sammy |date=June 14, 2023 |title=Bell cutting 1,300 positions, closing or selling 9 radio stations |url=https://financialpost.com/telecom/bell-cutting-1300-positions-closing-selling-9-radio-stations |access-date=June 14, 2023 |website=Financial Post |language=en-US |agency=The Canadian Press}}</ref><ref>{{cite web |author=BCE Inc. |date=March 2, 2023 |title=Annual Information Form for the Year Ended December 31, 2022 |url=https://bce.ca/investors/AR-2022/2022-bce-annual-information-form.pdf#page=17 |access-date=June 15, 2023}}</ref> The company also announced it would be closing or selling nine AM radio stations, some of which had changed to automated formats during previous rounds of cuts. Three stations—[[CKWW]], [[CKOC]], and [[CHAM (AM)|CHAM]]—were sold to CINA Media Group.<ref name="cp-cuts-2023" /><ref>{{Cite web |last=Thiessen |first=Connie |date=2023-11-20 |title=Neeti P. Ray makes bid to buy Bell Media AM stations in Hamilton, Windsor |url=https://broadcastdialogue.com/neeti-p-ray-makes-bid-to-buy-bell-media-am-stations-in-hamilton-windsor/ |access-date=2024-08-24 |website=Broadcast Dialogue |language=en-US}}</ref> BCE blamed a number of industry changes and increasing losses in its news divisions for the cuts, while questioning the regulatory priorities of the federal government and the CRTC; one BCE executive mentioned having waited for reforms on some items for years, while also citing "relentless regulatory intervention" by the CRTC to cut wireless and Internet service pricing.<ref name="cp-cuts-20232">{{Cite web |last=Hudes |first=Sammy |date=June 14, 2023 |title=Bell cutting 1,300 positions, closing or selling 9 radio stations |url=https://financialpost.com/telecom/bell-cutting-1300-positions-closing-selling-9-radio-stations |access-date=June 14, 2023 |website=Financial Post |language=en-US |agency=The Canadian Press}}</ref> This rationale was questioned by union officials and other experts who felt Bell should have better prepared for industry changes, or could have waited for the full implementation of the ''[[Online Streaming Act]]'' (Bill C-11) and the ''[[Online News Act]]'' (Bill C-18).<ref name="cp-cuts-20232" />
On February 8, 2024, BCE announced that it would cut 4,800 positions, citing declining revenues, and new CRTC requirements mandating that the company offer wholesale access to its fibreoptic networks to competitors. The cuts resulted in major cuts at Bell Media, including cutbacks at CTV News and the proposed sale of nearly half of its radio stations.<ref>{{Cite web |last=Thiessen |first=Connie |date=2024-02-08 |title=Most noon, weekend CTV newscasts cancelled as part of cuts at Bell Media |url=https://broadcastdialogue.com/most-noon-local-ctv-newscasts-cancelled-as-part-of-cuts-at-bell-media/ |access-date=2024-02-08 |website=Broadcast Dialogue |language=en-US}}</ref><ref>{{Cite web |last=Thiessen |first=Connie |date=2024-02-08 |title=Bell to reduce workforce by 4,800, divest 45 radio stations |url=https://broadcastdialogue.com/bell-to-reduce-workforce-by-4800-divest-45-radio-stations/ |access-date=2024-02-08 |website=Broadcast Dialogue |language=en-US}}</ref><ref>{{cite news |date=February 8, 2024 |title=Bell Media planning cuts to CTV, BNN Bloomberg following BCE layoffs, sale of 45 radio stations |url=https://www.cbc.ca/news/business/bce-cuts-1.7108658 |access-date=February 8, 2024 |work=CTV News}}</ref> In June 2024, BCE announced that it had agreed to sell [[Northwestel]] to a consortium of First Nations groups in [[Northern Canada]] for around $1 billion.<ref>{{Cite web |date=2024-06-11 |title=Northwestel being sold to Indigenous consortium for $1B |url=https://www.aptnnews.ca/national-news/indigenous-consortium-sixty-north-unity-enters-deal-to-purchase-northwestel-for-1b/ |access-date=2024-11-05 |website= |publisher=Canadian Press |language=en-US |via=APTN News}}</ref>
On September 18, 2024, it was announced that BCE's 37.5% interest in [[Maple Leaf Sports & Entertainment]] (MLSE) would be sold to Rogers Communications for $4.7 billion; BCE stated that the sale would be used to fund foundational changes at the company towards being a "techco" rather than a "telco". As part of the agreement, Bell Media reached long-term deals to maintain its media rights to MLSE-owned teams for 20 years at fair market value.<ref>{{Cite web |last1=Soshnick |first1=Scott |last2=Badenhausen |first2=Kurt |date=2024-09-18 |title=Rogers to Buy 37.5% Maple Leaf Sports Stake From Bell for $3.5B |url=https://www.sportico.com/business/team-sales/2024/rogers-acquires-mlse-stake-bce-1234797692/ |access-date=2024-09-18 |website=Sportico.com |language=en-US}}</ref><ref>{{Cite news |last=Benchetrit |first=Jenna |date=September 18, 2024 |title=Rogers to become majority owner of MLSE after buying Bell's stake for $4.7B |url=https://www.cbc.ca/news/business/bell-rogers-mlse-1.7326526 |access-date=September 18, 2024 |work=[[CBC News]]}}</ref><ref name="seismic">{{cite web |last=Grange |first=Michael |date=2024-09-18 |title=Rogers' MLSE deal a seismic shift for Canadian sports |url=https://www.sportsnet.ca/nhl/article/rogers-mlse-deal-a-seismic-shift-for-canadian-sports/ |accessdate=2024-09-21 |publisher=[[Sportsnet]]}}</ref><ref>{{cite web |last=Shecter |first=Barbara |date=2024-09-20 |title=After Rogers' MLSE deal, Leafs-Raptors-Jays IPO close to a slam dunk, say analysts |url=https://financialpost.com/fp-finance/rogers-mlse-deal-create-leafs-raptors-jays-ipo |accessdate=2024-09-22 |publisher=[[Financial Post]]}}</ref> On November 4, 2024, BCE announced its intent to acquire U.S. telco [[Ziply Fiber]]—which operates in the [[Pacific Northwest]]—for $5 billion (US$3.6 billion).<ref name=":0">{{Cite web |date=2024-11-04 |title=Bell Canada acquiring Seattle-area internet provider Ziply Fiber in $3.6B deal |url=https://www.geekwire.com/2024/bell-canada-acquiring-seattle-area-internet-provider-ziply-fiber-in-3-6b-deal/ |access-date=2024-11-04 |website=GeekWire}}</ref><ref>{{Cite news |date=2024-11-04 |title=BCE paying $5-billion for U.S. internet provider Ziply, pauses dividend hikes to help fix balance sheet |url=https://www.theglobeandmail.com/business/article-bce-paying-5-billion-for-us-internet-provider-ziply-pauses-dividend/ |access-date=2024-11-04 |work=The Globe and Mail |language=en-CA}}</ref>
== Major subsidiaries ==
As of 2016, BCE Inc. has three primary divisions: Bell Canada, [[Bell Mobility]], and Bell Media, comprising over 80% of BCE's revenue.<ref name="BCE-AR-2015">{{cite web
| url = http://www.bce.ca/investors/AR-2015/2015-bce-annual-report.pdf
| title = BCE INC. 2015 ANNUAL REPORT
| author = BCE Inc.
| publisher = BCE Inc.
| access-date = March 21, 2016
}}</ref> [[Bell Aliant]] was a subsidiary company formed in 1999 from the merger of the four BCE-controlled telephone companies serving Canada's [[Atlantic Canada|Atlantic provinces]]. In 2016, the operations of Bell Aliant were consolidated into those of Bell Canada.<ref>[https://crtc.gc.ca/ownership/eng/cht143.pdf CRTC Ownership structure 2015]. Retrieved March 6, 2016</ref>
Its Bell MTS Inc. subsidiary, owns 100% of its Bell Canada division which includes Bell Aliant, Bell Mobility, [[Bell Satellite TV]], Bell Media, [[Bell Fibe TV]], [[Virgin Mobile Canada]] and [[Lucky Mobile]]. Bell's flanker wireless brand, Virgin Mobile was officially rebranded to Virgin Plus on July 19, 2021, to reflect the brand's evolution beyond just wireless offerings which now includes Virgin Plus Internet as well as Virgin Plus TV. <ref>{{Cite web|date=July 19, 2021|title=Virgin Mobile rebranded to Virgin Plus {{!}} IT World Canada News|url=https://www.itworldcanada.com/article/virgin-mobile-rebranded-to-virgin-plus/455984|access-date=November 30, 2021|website=www.itworldcanada.com|language=en-US}}</ref>
The Bell Media assets include three Canadian conventional television networks, [[CTV Television Network|CTV]], [[CTV 2]] and [[Noovo]] along with dozens of specialty television channels including [[BNN Bloomberg]], [[CTV Comedy Channel]], [[CTV News Channel (Canadian TV channel)|CTV News Channel]], [[CTV Drama Channel]], [[CTV Sci-Fi Channel]], [[Discovery Channel (Canadian TV channel)|Discovery Channel]], [[MTV (Canadian TV channel)|MTV]], [[MuchMusic|Much]], [[E! (Canadian TV channel)|E!]], [[The Sports Network|TSN]], [[Réseau des Sports|RDS]] and 109 licensed radio stations in 58 markets across the country.<ref>{{Cite web|title=About us|url=https://www.bellmedia.ca/about-us/|access-date=November 30, 2021|website=Bell Media|language=en-US}}</ref> It also operates the [[Crave (TV network)|premium television service]] (formerly The Movie Network) and [[Crave (streaming service)|over-the-top streaming service]] Crave, which most prominently holds rights to [[HBO]], [[Max (streaming service)|Max]],<ref>{{Cite web |last=Whittock |first=Jesse |date=2024-10-08 |title=Bell Expands Warner Bros Discovery Pact For HBO & Max Content And Ends Legal Action Over Rogers Deal |url=https://deadline.com/2024/10/bell-warner-bros-discovery-hbo-max-deal-expands-1236109976/ |access-date=2024-10-08 |website=Deadline |language=en-US}}</ref> and [[Starz]] original series, as well as other feature films and original series.<ref>{{Cite web |last=Goldbart |first=Max |date=December 8, 2022 |title=Sony Pictures Entertainment Inks Deal With Canada's Crave For Blockbuster Movies Including ''Spider-Man'', ''Madame Web'', ''Jumanji'' |url=https://deadline.com/2022/12/sony-pictures-entertainment-crave-spider-man-madame-web-jumanji-1235193222/ |url-status=live |archive-url=https://web.archive.org/web/20221208150439/https://deadline.com/2022/12/sony-pictures-entertainment-crave-spider-man-madame-web-jumanji-1235193222/ |archive-date=December 8, 2022 |access-date=September 7, 2024 |website=[[Deadline Hollywood]]}}</ref><ref name="cp-crave-starz">{{cite web |last=Friend |first=David |date=February 7, 2019 |title=Streaming platform Crave to add Starz brand in beefed-up service bundle |url=https://o.canada.com/pmn/entertainment-pmn/streaming-platform-crave-to-add-starz-brand-in-beefed-up-service-bundle/wcm/7a819975-cefc-4a45-9520-76c4382a050b |access-date=February 7, 2019 |publisher=[[The Canadian Press]] (via [[Canada.com]])}}</ref>
BCE also owns 18% of the [[Montreal Canadiens]] [[ice hockey]] club, and (together with BCE's pension plan) a 37.5% interest in [[Maple Leaf Sports & Entertainment]] (owner of several Toronto sports franchises).<ref>https://www.theglobeandmail.com/report-on-business/bell-rogers-now-official-owners-of-mlse/article4493958/{{cite news|url=https://www.cbc.ca/sports/hockey/nhl/bell-to-keep-canadiens-stake-1.997652|title=Bell to keep Canadiens stake|author=The Canadian Press|work=[[CBC.ca]]|date=December 9, 2011|access-date=December 9, 2011}}</ref>
=== Bell Canada ===
{{main|Bell Canada}}
[[File:Campus Bell in Montreal 1.jpg|thumb|[[Bell Canada]] headquarters in [[Montreal]]. The [[telecommunication]]s company is a subsidiary of BCE Inc.]]
Bell Canada formed the primary historic core of the company in central, Atlantic, and northern Canada.
* [[Bell Aliant]]
* Distribution (Ontario, Quebec, Atlantic) – Bell Canada, Cablevision du Nord de Quebec Inc.
* [[Bell MTS]]
* [[Bell Satellite TV]] – Bell ExpressVu Limited Partnership
=== Bell Media ===
{{main|Bell Media}}
[[File:299 Queen Street West-1 2022.jpg|thumb|[[Bell Media]] headquarters at [[299 Queen Street West]] in Toronto. The company is BCE's [[mass media]] subsidiary.]]
Bell Media is the BCE broadcast and media subsidiary. In 2000, BCE bought the CTV Television Network for $2.3 billion. The company combined CTV with its holdings in ''The Globe and Mail'' newspaper to form Bell Globemedia, with BCE owning 70% and [[Thomson Corporation|Thomson Newspapers]] and Woodbridge Co. Ltd. the remainder. In 2005, BCE sold its controlling interest in Bell Globemedia for $183 million to Woodbridge, [[Torstar]], and the Ontario Teachers' Pension Plan, with BCE retaining a 20% stake.<ref>[https://www.cbc.ca/news/business/bce-to-buy-ctv-for-1-3b-1.888285 ''BCE to buy CTV for $1.3B'', CBC.ca, September 10, 2010].  Retrieved March 6, 2016</ref><ref>[http://www.canada.com/story.html?id=886a24ee-5c68-4d17-864b-cdef43fe3324 ''BCE sells most of CTV and the Globe'', National Post, December 3, 2011].  Retrieved March 6, 2016</ref> The company was subsequently renamed CTVglobemedia. In 2007, it acquired most assets of [[CHUM Limited]]. In 2010, BCE bought out the other owners, acquiring CTV's specialty television, digital media, conventional TV and radio broadcasting platforms.<ref>[https://www.ctvnews.ca/bell-canada-parent-bce-buys-ctv-inc-for-1-3b-1.551533 ''Bell Canada parent BCE buys CTV Inc. for $1.3B'', CTV.ca, September 10, 2010].  Retrieved March 6, 2016</ref> In August 2015, BCE sold its remaining 15% stake in the Globe and Mail to Woodbridge.<ref>[https://web.archive.org/web/20150817023034/http://ca.reuters.com/article/businessNews/idCAKCN0QJ2AJ20150814 Thomson family's Woodbridge buys full control of Globe and Mail, Reuters Canada, August 14, 2015].  Retrieved March 6, 2016</ref> Bell Media's subsidiaries:
{{col div}}
* Bell Media TV
* Bell Media TV – Sports Specialty Services
* Bell Media TV – Specialty Services (other than Sports)
* Bell Media Radio
* Bell Media Astral – Radio, TV, & Specialty Services
{{col div end}}
== Other holdings ==
Below is partial list of the holdings of the BCE conglomerate.
=== Montreal Canadiens ===
In 2009, BCE partnered with the Molson family in acquiring the Montreal Canadiens Hockey Club and the [[Bell Centre]]. The $575 million purchase was termed "the richest deal in NHL history"; BCE's share was reported to be $40 million.<ref>[https://www.forbes.com/forbes/2010/1220/nhl-valuations-10-geoff-molson-montreal-canadiens-thin-ice.html ''Oh Canadiens: Inside The Richest Deal In NHL History'', Forbes Magazine, 12/02/2010].  Retrieved March 6, 2016</ref>
=== Maple Leaf Sports and Entertainment ===
In 2011, together with [[Rogers Communications]] and Kilmer Sports (holding company of [[Larry Tanenbaum]]), BCE acquired [[Maple Leaf Sports & Entertainment]], owner of the [[Toronto Maple Leafs]] and [[Toronto Raptors]] professional sports teams. BCE's interest is held in partnership with Rogers Communications through the holding company 8047286 Canada Inc., 50% owned by Rogers and 50% by BCE holding company 7680147 Canada Inc., which is in turn 74.67% owned by BCE and 25.33% by BCE Master Trust Fund (investment fund of Bell's pension plan).<ref>{{cite web|url=https://www.newswire.ca/en/story/892971/bell-acquires-ownership-position-in-maple-leaf-sports-and-entertainment-mlse/|title=Bell acquires ownership position in Maple Leaf Sports and Entertainment – MLSE|author=BCE Inc.|date=December 9, 2011|access-date=March 6, 2016}}</ref>
Kilmer Sports and BCE also co-own the [[Toronto Argonauts]], a team the companies purchased in 2015; BCE and Kilmer each own 50% of the team.<ref name=bellannualreport>{{cite web|url=https://www.bce.ca/investors/AR-2015/2015-bce-annual-report.pdf|title=Leading the way in communications|year=2016|access-date=March 30, 2016|publisher=BCE Inc.}}</ref>
== Past holdings ==
=== BCE Development ===
BCE Development was founded as '''Daon Development''' by Vancouver-based developer [[Jack Poole]] in 1964. In the mid-1970s, Daon became known for expanding aggressively in the United States. The company first entered the American market in 1976 and nearly quadrupled its total assets to $1.67 billion in four years.<ref>[https://www.latimes.com/archives/la-xpm-1985-02-03-re-13512-story.html ''Bell Canada to Acquire Daon Development Co. : Seeks Controlling Interest in Firm Whose Lightning Rise Ended With the Recession'', LA Times, February 3, 1985].  Retrieved March 6, 2016</ref> It borrowed heavily to finance deals for premium office space and condominium conversions. By 1981, the company had assets worth more than $2 billion. When interest rates soared, however, Daon was caught overextended, could not meet its debt payments, and was forced into a major restructuring with its bankers. In 1985, BCE acquired 68% of Daon from its creditors and changed its name to BCE Development Corporation in February 1986. In March 1986, it agreed to acquire US$1 billion of commercial real estate from the American subsidiary of the Oxford Development Group Ltd., more than doubling BCED's portfolio. BCE stated its goal was to convert from a land developer to a developer of prime commercial properties.<ref>[https://www.nytimes.com/1986/03/14/business/business-people-chairman-rebuilding-former-daon-corp.html ''Chairman rebuilding former Daon Corp.'', NY Times, March 14, 1986].  Retrieved March 6, 2016</ref>
In July 1990, BCE Inc. sold 50% ownership in BCE Development to Carena Developments Ltd. (controlled by the [[Edper Investments|Toronto branch of the Bronfman family]]). BCED was renamed Brookfield Development Inc. (now [[Brookfield Asset Management]]) followed in 1994 by the remaining 50%.<ref>[https://web.archive.org/web/20160304094130/http://articles.chicagotribune.com/1990-07-03/business/9002230660_1_firm-canadian-changed ''BCE Development Changes Its Name'', Chicago Tribune, July 3, 1990].  Retrieved March 6, 2016</ref><ref>[https://www.encyclopedia.com/books/politics-and-business-magazines/brookfield-properties-corporation Brookfield Properties Corporation, Encyclopedia.com].  Retrieved March 6, 2016</ref><ref>[http://brookfieldofficeproperties.com/_Global/25/img/content/Files/Timeline/Brookfield%20Office%20Properties%20History%20revised%201.11.pdf Brookfield Office Properties history] {{Webarchive|url=https://web.archive.org/web/20111107090123/http://www.brookfieldofficeproperties.com/_Global/25/img/content/Files/Timeline/Brookfield%20Office%20Properties%20History%20revised%201.11.pdf |date=November 7, 2011 }}.  Retrieved March 6, 2016</ref>
=== Montreal Trust ===
In March 1989, BCE bought a 64% stake in [[Montreal Trust]] from [[Power Financial]] for $547-million. The diversification was considered a "natural evolution" due to BCE's long-standing interest in financial services, its familiarity in selling services to the public, and its in-house money management operations. In 1993, BCE sold Montreal Trust to [[Scotiabank]] for about $290-million, taking a substantial loss.<ref>[https://financialpost.com/news/fp-street/rogers-bank-plans-lessons-from-bce ''Rogers bank plans: Lessons from BCE'', Financial Post, September 7, 2011].  Retrieved March 6, 2016</ref>
=== Nortel Networks ===
[[File:BellPayPhone3.jpg|thumb|upright|A Bell [[Nortel payphones#Millennium|Nortel Millennium]] payphone, introduced in the 1990s. Nortel was a BCE subsidiary from 1983 to 2000.]]
When BCE was created in 1983, [[Northern Telecom]] was transferred from a subsidiary of CRTC-regulated Bell Canada to a non-regulated subsidiary of BCE. In 1998, with Nortel's acquisition of [[Bay Networks]], the company's name was changed to Nortel Networks. As a consequence of the stock transaction used to purchase Bay Networks, BCE's holding was diluted to a minority stake. In 2000, BCE [[spun out]] Nortel, distributing its stock in Nortel to its shareholders. Nortel's share price collapsed with the dot-com crash of 2000 and combined with a mishandling of a subsequent accounting investigation, the company never fully recovered. It was liquidated in 2009.<ref>[https://canadianbusiness.com/technology-news/nortel-collapse-of-a-giant/ ''Nortel – Collapse of a giant'', Canadian Business, January 14, 2009] {{Webarchive|url=https://web.archive.org/web/20160308131859/http://www.canadianbusiness.com/technology-news/nortel-collapse-of-a-giant/ |date=March 8, 2016 }}.  Retrieved March 6, 2016</ref><ref>[https://financialpost.com/executive/leadership/lessons-from-nortel-acquisitions-spree-bad-management-calls-led-to-tech-giants-fall-study-says?__lsa=2d67-e92b Lessons from Nortel: Acquisitions spree, bad management calls led to tech giant's fall, study says, Financial Post, March 17, 2014].  Retrieved March 6, 2016</ref>
=== Teleglobe Inc. ===
In 1987, BCE purchased a 30% stake in Memotec Data Corporation for $196 million.<ref>[https://books.google.com/books?id=AIaZOlcgG28C&dq=BCE+acquires+memotec&pg=PA30 Babe, Robert E.  Telecommunications in Canada: Technology, Industry, and Government. University of Toronto Press, 1990.  Page 30.] {{ISBN|0802067387}}.  Retrieved March 6, 2016</ref> When Memotec purchased international telecommunications carrier Teleglobe Canada from the Canadian government in 1987, the company was renamed Teleglobe Inc. In March 2000, BCE announced the purchase of the Teleglobe shares it did not own for $9.65 billion.<ref>[https://www.itworldcanada.com/article/bce-goes-international-with-teleglobe/33884 ''BCE goes International with Teleglobe'', IT Canada, March 9, 2000].  Retrieved March 6, 2016</ref> In April 2002, BCE announced it was cutting off long-term funding of Teleglobe, would give up on the company, and take a charge of up to $8.5 billion.<ref>[https://www.lightreading.com/business-management/bce-sells-last-of-teleglobe ''BCE sells last of Teleglobe'', Light Reading, 1/2/2003].  Retrieved March 6, 2016</ref> In 2005, Teleglobe was sold to the [[Tata Group]] and is now known as [[VSNL International Canada]]. In September 2002, it sold its voice and data business for $197 million.<ref>[https://www.cbc.ca/news/business/teleglobe-sells-voice-and-data-business-1.335698 Teleglobe sells voice and data business, CBC, September 19, 2002].  Retrieved March 6, 2016</ref>
=== Telesat Canada ===
In 1970, Bell Canada acquired a minority interest in satellite telecommunications carrier [[Telesat Canada]]. In 1998, BCE raised its stake to 100% at a cost of $158 million for the 42% of shares it did not already own.<ref>[https://www.joc.com/article/canadas-bce-to-sell-stake-in-british-firm-5326006 ''Canada's BCE sells stake in British Firm'',  Journal of Commerce, May 13, 1998]. Retrieved March 6, 2016</ref> In December 2006, BCE announced the sale of Telesat to [[Loral Space & Communications]] and the [[Public Sector Pension Investment Board]] for CAD$3.28 billion.
=== TransCanada Pipelines ===
In 1983, BCE acquired a controlling 42% stake in [[TransCanada PipeLines Limited]] (TCPL). In 1990, it announced its departure from the energy sector and sold its stake in TCPL for $1.1 billion.<ref>[http://www.referenceforbusiness.com/history2/87/BCE-Inc.html#ixzz42BF1AMZ0 BCE Inc. – Company Profile, Reference for Business]. Retrieved March 6, 2016</ref>
== Corporate governance ==
BCE Inc.'s ISS Governance QualityScore as of December 3, 2019, is 2. The pillar scores are Audit: 1; Board: 3; Shareholder Rights: 3; Compensation: 3.
Corporate governance scores are provided to [[Yahoo! Finance]] by [[Institutional Shareholder Services]] (ISS). Scores denote a [https://www.wisegeek.com/what-is-a-decile-rank.htm decile rank] relative to index or region. A decile score of 1 denotes the lowest governance risk, while a score of 10 denotes the highest governance risk.<ref>{{Cite web|url=https://finance.yahoo.com/quote/BCE/profile/|title=BCE, Inc. (BCE) Company Profile & Facts – Yahoo Finance|website=finance.yahoo.com|language=en-US|access-date=March 26, 2020}}</ref>
=== Board of directors ===
As of March 2020, the current [[board of directors]]<ref>{{Cite web|url=https://www.bce.ca/about-bce/leadership-team/board-members|title=Board Members {{!}} BCE Inc.|website=www.bce.ca|language=en|access-date=March 26, 2020}}</ref> are: Barry K. Allen, Mirko Bibic, Sophie Brochu, Robert E. Brown, David F. Denison, Robert P. Dexter, Ian Greenberg, Katherine Lee, Monique F. Leroux, Calin Rovinescu, Karen Sheriff, Robert C. Simmonds, and Paul R. Weiss.
Since inception, BCE has had five [[CEO]]s:{{col div}}
* [[A. Jean de Grandpré]]: 1983–1988
* {{interlanguage link|Raymond Cyr|fr}}: 1988–1992
* [[Lynton Wilson]]: 1992–1998
* [[Jean Monty]]: 1998–2002
* [[Michael Sabia]]: 2002–2008
* [[George A. Cope]]: 2008–2020
* [[Mirko Bibic]]: 2020-present <ref>{{Cite web|title=Mirko Bibic {{!}} Executive Team {{!}} BCE Inc.|url=https://www.bce.ca/about-bce/leadership-team/executives/mirko-bibic|website=BCE|publisher=BCE Inc.|access-date=2024-07-31}}
</ref>{{col div end}}
== See also ==
* [[Communications in Canada]]
* [[Tier 1 network]]
* [[List of mobile network operators]]
* [[List of telephone operating companies]]
* [[Triple play (telecommunications)]]
== References ==
{{Reflist}}
==External links==
* {{Official|https://www.bce.ca/}}
* {{Finance links
| symbol = BCE
| google = TSE:BCE
| yahoo = BCE.TO
| bloomberg = BCE:CA
| reuters = BCE.TO
}}
{{Bell Canada Enterprises}}
{{Bell Media}}
{{Morningstar National Bank Québec Index}}
{{S&P/TSX 60}}
{{Authority control|state=expanded}}
[[Category:BCE Inc. acquisitions| 01]]
[[Category:Bell Canada]]
[[Category:Bell System]]
[[Category:Conglomerate companies of Canada]]
[[Category:Holding companies of Canada]]
[[Category:Information technology companies of Canada]]
[[Category:Mass media companies of Canada]]
[[Category:Telecommunications companies of Canada]]
[[Category:Multinational companies headquartered in Canada]]
[[Category:Companies based in Montreal]]
[[Category:Verdun, Quebec]]
[[Category:Corporate spin-offs]]
[[Category:Canadian companies established in 1983]]
[[Category:Holding companies established in 1983]]
[[Category:Mass media companies established in 1983]]
[[Category:Telecommunications companies established in 1983]]
[[Category:Companies listed on the Toronto Stock Exchange]]
[[Category:Canadian brands]]
[[Category:1983 establishments in Quebec]]