OTTAWA—BCE Inc. is selling off almost half its radio stations and eliminating 4,800 jobs as so-called heritage media continues to lose advertising revenue to social media outlets. According to The Canadian Press, it was the second round of cuts in less than a year as the company closed nine radio stations and laid off six per cent of their employees last spring.
Malcolmson says the company cannot wait another year for the financial help promised by the introduction of Bill C-11, federal legislation designed to charge social media broadcasters a fee for repeating news gathered by traditional media outlets. He also criticized the amount of prospective payments saying it simply would not be enough to stem the losses. The Canadian Radio-television and Telecommunications Commission hopes to be ready to make payments by the end of this year.
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