TORONTO, June 25, 2012 /CNW/ - Bell Media and CBC/Radio Canada announced today they will not submit any further joint bids for the exclusive Canadian media rights for the Sochi 2014 Olympic Winter Games and the Rio 2016 Olympic Games.
During their partnership, Bell Media and CBC/Radio-Canada submitted two joint bids that were not accepted by the IOC.
As a result, the two parties have decided to formally dissolve their bid partnership.
"We presented not one, but two fiscally responsible bids that are reflective of the Canadian marketplace," said Phil King, President, CTV Programming and Sports. "Unfortunately, we were not able to reach agreement on terms with the IOC."
"We were optimistic that an agreement could have been reached but it has to work for all parties…regrettably, that didn't happen," said Jeffrey Orridge, Executive Director, CBC Sports Properties on behalf of CBC/Radio-Canada. "In light of this decision, CBC will step back and take some time to consider our options."
About Bell Media
Bell Media is Canada's premier multimedia company with leading assets in television, radio and digital. With passion and an unrelenting commitment to excellence, Bell Media entertains, informs and inspires Canadians. Bell Media owns 28 conventional stations, including CTV, Canada's #1 television network and lead broadcaster of the London 2012 Olympic Games, and owns and operates 29 specialty channels, including TSN, Canada's #1 specialty channel and RDS, Canada's #1 French-language specialty channel. Bell Media also owns 33 radio stations, dozens of websites including the Sympatico.ca portal, and Dome Productions. Bell Media is owned by BCE Inc. (TSX, NYSE: BCE), Canada's largest communications company. For more on Bell Media, please visit www.bellmedia.ca.
About CBC/Radio Canada
CBC/Radio-Canada is Canada's national public broadcaster and one of its largest cultural institutions. The Corporation is a leader in reaching Canadians on new platforms and delivers a comprehensive range of radio, television, Internet, and satellite-based services. Deeply rooted in the regions, CBC/Radio-Canada is the only domestic broadcaster to offer diverse regional and cultural perspectives in English, French and eight Aboriginal languages, plus seven languages for international audiences. In 2011, CBC/Radio-Canada is celebrating 75 years of serving Canadians and being at the centre of the democratic, social and cultural life of Canada.
SOURCE Bell Media