8 replies to this topic

[Victoria Watcher]

Courtenay-based Vista Radio acquires 21 radio stations from Bell Media following layoffs

 

 

https://www.cheknews...ayoffs-1190264/

 

 

 

The president of the company buying 21 B.C. radio stations from Bell Media says there won't be any closures or layoffs, despite concerns from B.C. Premier David Eby about the sale.

 

Vista Radio president Bryan Edwards said the stations have a total of about 80 employees and he believed some were understaffed.

 

“We have continued to grow our company in the markets we're in and news is a big part of what we do. And I think that that's an area that we will certainly bulk up in these acquired stations over a period of time,” he said.

 

Edwards said his 20-year-old company, based in Courtenay, B.C., already operates radio stations in communities adjacent to the ones its planning to purchase.

Edited by Victoria Watcher, 10 February 2024 - 03:59 AM.

[Matt R.]

So Bell can’t make these financially viable, but Vista can? Sounds like Bell should buy Vista.

[Victoria Watcher]

Odd eh? Bell even went out of their way to also tell us how unprofitable these stations were.

[Matt R.]

Maybe they were bought for a very low price.

[Victoria Watcher]

Probably. But they must have collected a few dollars or transferred some debt. If they were worthless to anyone they would simply close them.

[UDeMan]

A well run local station can make lots of money. The Q 100.3 is thriving. A friend works there and they said ad sales are the best ever.

[AllseeingEye]

Ultimately this really should come as no surprise. In BCE shareholder minutes dating back to 2014, Bell execs said they were going to divest traditional radio/TV, and focus on other platforms, presumably digital/streaming although that was not explicitly stated at that time. Makes sense more than ever in 2024 however.

 

Anyone in the media biz, or especially those invested in it (I own BCE shares*) should focus on shareholder meeting minutes to understand where their company is headed. It'll be interesting to see what if anything the CRTC has to say about this development.

 

 

* BTW, BCE stock pays good dividends. And in the fine print, they're raising the dividend 5 cents/share

[Matt R.]

A well run local station can make lots of money. The Q 100.3 is thriving. A friend works there and they said ad sales are the best ever.

 

That's Jimmy Pattison.  Maybe he's just better at business than the folks who run Bell.

[Mike K.]

There’s tax credits for these sales, so it can be advantageous to sell even at a loss relative to market value.

We need more workers of these outlets to start buying and operating these stations. It shouldn’t be difficult for a group of employees to secure funding by showing how they plan to make the business viable. It’s sort of a golden opportunity for employees to run the business they have worked for.