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Stock Market & Financial Investment News

News Breaks
July 7, 2014
13:41 EDTTU, BCE, RCITELUS, Rogers retreat after Canada discloses auction rules
Shares of large Canadian wireless carriers TELUS (TU) and Rogers (RCI) are falling after the Canadian government indicated that it would sell wireless spectrum to smaller telecom companies. WHAT'S NEW: The Canadian government announced today that it would sell new wireless spectrum in an auction beginning next year. A 30MHz block of spectrum will be sold to one company in each market, the government stated. ANALYST REACTION: In a note to investors, Bank of America Merrill Lynch responded to the news by lowering its rating on Rogers Communications and TELUS to Neutral from Buy. Under the rules announced by the Canadian government, only companies with market shares of less than 10% will be able to purchase the spectrum that will be auctioned off next year, analyst Glenn Campbell stated. As a result, Campbell now expects Rogers and TELUS to each have a 27% share of the country's wireless market in 2025, down from his previous estimate of a 28% share. He cut his price target on TELUS to $36 from $38 and on Rogers to $38.75 from $40.50. ANOTHER TO WATCH: Like TELUS and Rogers, BCE Inc. (BCE) provides communication services to residential, business and wholesale customers in Canada. PRICE ACTION: In mid-afternoon trading, TELUS shares trading in New York dropped 2.1% to $36.54, Rogers fell 2% to $39.69 and BCE slid 1.2% to $45.05.
News For TU;RCI;BCE From The Last 14 Days
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November 19, 2015
17:05 EDTBCEBCE signs exclusive agreement with HBO for content in Canada
Bell Media and HBO announced an agreement in which Bell Media will become the exclusive Canadian home of all HBO programming on all subscription platforms into the next decade. Under the comprehensive, long-term agreement, the first of its kind for HBO in Canada, Bell Media will have the ability to deliver current-season, past-season, and library HBO programming exclusively on its linear, on-demand, and over-the-top platforms in English and French. The agreement also marks the first time HBO has granted exclusive subscription video on demand rights for first-run programming throughout Canada. Financial terms of the deal were not disclosed. All HBO content will be delivered nationwide by one company for the first time ever in Canada. Bell Media and HBO also announced today a new original production development program, with the goal of co-producing premium, made-in-Canada content.

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