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BCE Inc (2)
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BCE's Bell sells MusiquePlus, MusiMax channels

2014-09-16 16:32 ET - News Release

Mr. Maxime Remillard of Groupe V reports

GROUPE V MEDIA ACQUIRES MUSIQUEPLUS AND MUSIMAX AND ANNOUNCES THE ARRIVAL OF NEW FINANCIAL PARTNERS

Groupe V Media has finalized the acquisition of specialty channels MusiquePlus and MusiMax from BCE Inc.'s Bell Media, and has brought on board new financial partners.

MusiquePlus and MusiMax

On Sept. 11, the Canadian Radio-television and Telecommunications Commission (CRTC) approved the transaction based around Groupe V Media's acquisition of MusiquePlus and MusiMax, thus concluding its agreement with Bell Media. This past December, Groupe V Media had announced its intention to acquire the two specialty channels, then held by Bell Media Inc.

"We are proud to welcome specialty channels MusiquePlus and MusiMax to Groupe V Media. These two acquisitions are a perfect complement to our ongoing activities and will allow us to increase our presence on Quebec's television landscape," said Maxime Remillard, president and chief executive officer of Groupe V Media. "These acquisitions are a testament to our desire to create an ecosystem of generational, multiplatform networks, targeting a young and active audience province wide."

New financial partners

At the same time, Groupe V Media announced the arrival of new financial partners. The Caisse de depot et placement du Quebec, the Fonds de solidarite FTQ and Investissement Quebec will become shareholders in the company. Groupe V Media will still be controlled by Mr. Remillard, who will remain president and CEO.

"The arrival of partners in Groupe V Media's capital stock is excellent news, because it provides the company with $30-million in additional capital to relaunch MusiquePlus and MusiMax, and to expand Groupe V Media," added Mr. Remillard. "This acquisition fits perfectly within our growth plan, which aims to intensify our investment in high-quality multiplatform content."

"With this investment in Groupe V Media, the Caisse is contributing to the growth plan of a major Quebec broadcaster," said Christian Dube, executive vice-president, Quebec, of the Caisse de depot et de placement du Quebec. "The acquisition of specialty channels, combined with management's ability to foster and manage assets in the media industry, will enable Groupe V Media to strengthen its positioning and presence in the French-language television market."

"This transaction brings together three Quebec television networks, thus guaranteeing them a solid foundation for the future," said Janie Beique, senior vice-president, industries, entertainment and consumer goods, at the Fonds de solidarite FTQ. "The Fonds investment in Groupe V Media will ensure that MusiquePlus and MusiMax's ownership remain in Quebec, and is in line with the Fonds' long-standing support of Quebec culture. As evidenced by a number of current partnerships, this sector is very important to the Fonds."

"This new partnership between Groupe V Media and Investissement Quebec is the result of close co-operation among Quebec's economic players in allowing the birth of a major corporate headquarters in Quebec in the telecommunications sector, which occupies a key position in our economy and helps promote Quebec around the world," said Yves Lafrance, interim president and CEO of Investissement Quebec. "The government is proud of this collaboration and, through its investment, is contributing to the growth of a dynamic company in a rapidly changing sector."

By means of this acquisition and the arrival of new financial partners, Groupe V Media is seizing an opportunity in a period of great change within the industry, and is pursuing its mission to become Canada's largest independent broadcaster by investing in high-quality, accessible and real-time content.

About Groupe V Media

Groupe V Media is a Quebec-based company that has been working in the entertainment industry for five years. Groupe V Media owns V, a French-language television network built around entertainment in its purest form, and MusiquePlus and MusiMax, two newly acquired specialty channels.

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