Radio Canada is the last remaining Canadian broadcaster owned by the Broadcasting Standards Board of Governors (BSA).
CBC Radio Canada has been sold to a company owned by a former CBC president who is now an executive director at a large public-private investment firm.
The company is the Canadian Broadcasting Corp., a division of BCE Inc. BSA announced on Tuesday that it had bought CBC from BCE, in a deal valued at $20.4 billion.
“CBC is the only radio network in Canada still operated by CBC and the only public broadcaster in Canada to be owned and operated by a government-owned, publicly traded corporation,” the BSA said in a statement.
The BSA, an independent regulator of the Canadian broadcasting system, said it expects to sell CBC to BCE, a company with a market capitalization of $2.8 trillion.
The sale follows the news that the BSC has withdrawn its support for the CBC from the Canadian Radio-television and Telecommunications Commission, which is the governing body of the broadcasting system.
CBC president Jian Ghomeshi, a former host of Q and host of the CBC’s Q, is now executive director of the private equity firm Carlyle Group.
In its statement, the BSSB said it will retain ownership of CBC’s radio, television and internet operations.
CBC has been broadcasting in Canada since 1982.
It has a strong reputation for investigative journalism and high-quality journalism.
The CBC operates a daily morning show, Q, and a daily evening show, The National.
CBC News Network has a morning show on CBC Radio Canada, CBC Radio One, CBC News and CBC News.
It is the third Canadian broadcasting network to go public in recent years.
CBC bought Canadian Broadcasting Co. in 2012 for $300 million.