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BCE Inc (2)
Symbol BCE
Shares Issued 870,357,687
Close 2016-11-29 C$ 58.51
Market Cap C$ 50,924,628,266
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Post says Rogers, others hear CBC's call for more money

2016-11-29 06:56 ET - In the News

See In the News (C-RCI) Rogers Communications Inc

The Financial Post reports in its Tuesday edition that the CBC has submitted a proposal to the feds requesting $318-million in additional funding in order to allow it to go ad-free. The Post's Sean Craig writes that the CBC is also recommending that its funding level be "depoliticized" by tying its subsidy to its current five-year licence cycle and keeping it separate from election and government budget announcements. "Canada today is the third-worst-funded public broadcaster in the world," CBC's Heather Conway told the Post. "I think its an important conversation for Canadians to have, to decide whether they want public broadcasting or not. If we don't shift the financial model for supporting public broadcasting, there is a question as to its ultimate survival." The investment would bring the per capita annual support for the public broadcaster to $46, up from $34. The CBC says that its proposal to go ad-free would help Canada's media economy, with two-thirds of its ad revenue set to "migrate to other Canadian media, including private TV and digital, for a net gain to them of $158M." The CBC says the economic benefit of moving to an ad-free model would be a gain of $488-million in GDP and 7,200 new jobs.

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