01:08:04 EDT Fri 26 Apr 2024
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BCE Inc (2)
Symbol BCE
Shares Issued 900,352,738
Close 2017-09-28 C$ 58.37
Market Cap C$ 52,553,589,317
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Globe says Rogers, others seek answers on Netflix plans

2017-09-29 08:47 ET - In the News

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

The Globe and Mail reports in its Friday edition that Heritage Minister Melanie Joly's $500-million Netflix announcement did not include concrete details on the streaming service's plans to invest in Canadian TV productions and also left unanswered questions on the deal's actual worth. A triple-bylined item led by Daniel Leblanc says that the five-year commitment from the U.S. company to open a production house in Canada generated most of the buzz in the culture industry at Ms. Joly's announcement of a new federal cultural policy in Ottawa on Thursday. However, no one from Netflix was present at the announcement to explain the company's plans in Canada. A key question is whether Netflix's investment will go toward what would traditionally qualify as "Canadian content." There is also a possibility the investment will include "service productions" that are simply made with Canadian crews. At a news conference, Ms. Joly had few details to offer on the company's actual obligation under the confidential agreement with Ottawa. In particular, she did not say how much Netflix was currently spending on Canadian productions or how much it was planning to spend in Canada before it signed the deal.

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