Topic: How To Invest

The Successful Investor Hotline – Friday, June 16, 2023

Article Excerpt

BCE INC., $60.28, Toronto symbol BCE, is a buy. The company is Canada’s largest traditional telephone service provider. It has 2.19 million residential customers in Ontario, Quebec, Manitoba and the Atlantic provinces. BCE also has 4.26 million high-speed Internet users and 2.75 million TV subscribers (satellite and fibre-optic). In addition, it sells wireless services to 12.4 million users across Canada. BCE, through its Bell Media division, also owns and operates 35 conventional TV stations, 31 specialty and pay-TV channels, and 109 radio stations. In the first quarter of 2023, this division accounted for 11% of the company’s total revenue, and 5% of its earnings. Due to slowing advertising revenue, Bell Media now plans to sell or close nine of its radio stations. It will also merge some of the news-gathering operations in its other broadcasting operations, including CTV and BNN. In all, BCE will cut 1,300 jobs, or about 3% of its total workforce. The company has not yet said how much it expects…