OTTAWA | The federal government refused Monday to block the purchase of the television network V by telecom giant Bell.
Quebecor Media had requested the department of canadian Heritage to re-evaluate this acquisition after its approval by the Council of broadcasting and telecommunications commission (CRTC) last April.
The department of Heritage has the possibility to cancel a decision of the CRTC under the broadcasting Act.
However, in this specific case, the federal government believes that he may not intervene, as it is not a question of the licensing of the string V, but a simple transaction.
“Only a decision of the CRTC to issue, amend or renew a broadcasting license may be the subject of an intervention [from the government]. However, your request relates to a decision in the context of a transaction for acquisition of property where no license has been allocated,” wrote Hélène Laurendeau, deputy minister of the ministry of the Heritage, in a letter addressed to the management of Quebecor and the Journal de Montréal has obtained a copy.
The president and ceo of Quebecor, Pierre Karl Péladeau, is a fierce opponent of the redemption of V by Bell.
He expressed concern that with V in its ranks, the toronto-based company that is a monopoly in the media world in Canada.
Bell is the owner of no less than 30 television stations across the country, 109 radio stations and more than 200 web sites.
The company posted revenues of$ 2.1 billion last year against 381 M$ for VAT), a property of Quebecor, had shown Pierre Karl Péladeau last February.