11:22:52 EDT Mon 29 Apr 2024
Enter Symbol
or Name
USA
CA



BCE Inc (2)
Symbol BCE
Shares Issued 912,289,567
Close 2023-08-23 C$ 54.85
Market Cap C$ 50,039,082,750
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Globe says BCE's Bell to pull out of TIFF sponsorship

2023-08-24 07:04 ET - In the News

The Globe and Mail reports in its Thursday edition that Bell Canada is expected to end its lead sponsorship of the Toronto International Film Festival after this year's edition, which could create even more financial uncertainty for the festival. The Globe's Josh O'Kane and Barry Hertz write that the festival is also facing a dearth of star power going into its 2023 edition next month amid major strikes involving U.S. actors and writers. Losing its main sponsor of 28 years, whose name has been emblazoned on the festival's flagship TIFF Bell Lightbox theatre since the facility's 2010 opening, would be a further setback in an era when many movie fans prefer to stay on their couches. Bell contributes a significant portion of TIFF's roughly $14-million in sponsorship funding each year. The festival also takes in revenue from ticket sales, government grants and philanthropic donations. BCE has been raising concerns about profits at its media division amid a challenging ad market and competition from streaming services. It is also trying to get out of its local news and Canadian programming obligations for its television stations. The company also cut 1,300 jobs in June, shutting six radio stations and selling three others.

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