Can someone explain to me why radio has been effected by the pandemic? Is it advertisers dropping? I mean, I get that sports coverage was difficult at times, but two major sports are currently playing and a third is about to begin. The worst is behind us.
This is all about greed. I saw this with a company I worked for 18 years. Year after year, they cut staff and replaced with offshore workers or contract. In the last 5 years of my past career barely anyone received a raise of any significance, but high level corporate vp's and board members got massive raises every year. The CEO got millions in bonuses. Why.. because of stock performance.
Over a 5 year period Bell hit a high in stocks in February of 2020, I suspect because of the great 2019 financials. Then in March of 2020 Bells stocks drop considerably, but many companies did (pandemic related). So for the rest of 2020 Bell stocks are lower than the previous year. They still made big profits from what I read below, but not as good as 2019 I guess. So time to start slashing anything that doesn't have a huge financial return.
I'm by no means a financial expert, but this corporate level greed is pretty much a cookie cutter model for any big company.
You gotta think this takes Bell out of the running for the next Canadian hockey TV deal. I mean, why would they cut theses stations if they intended to control the future hockey market. Oh and one thing that shocked me this year, tune in to a Jets or Canucks TSN game. Their pregame/intermission/post-game production value is almost non-existent. We are spoiled watching Leaf games on TSN.
- Net earnings increased 28.9% to $932 million in Q4 with net earnings attributable to common shareholders of $889 million, or $0.98 per common share, up 32.3%; Q4 adjusted net earnings of $731 million generated adjusted EPS of $0.81, down 5.8%
- Achieved approximately 96% of 2019 service revenue and adjusted EBITDA in 2020 and sequential quarterly improvement in Q4 despite ongoing COVID-19 impacts
- Adjusted EBITDA down 3.2% in Q4 on 2.8% lower revenue and 2.6% reduction in operating costs
- 92,928 total wireless postpaid net additions in Q4; postpaid mobile phone net additions of 86,590 up 27% year over year
- Leading broadband wireline subscriber results in Q4: retail Internet net additions increase 25% to 44,512 with 12% Internet revenue growth; 21,106 IPTV net additions
- Over 6 million combined direct fibre and rural Wireless Home Internet locations at end of 2020, expected to grow to up to 6.9 million in 2021 with enhanced capital plan as Canada's fastest 5G network doubles population coverage
- Strong financial position with $3.8 billion of available liquidity at end of 2020
- Q4 cash flows from operating activities down 22% to $1,631 million; Q4 free cash flow of $92 million reflects $1.5 billion in capital investments, up 30% year over year; generated substantial free cash flow of $3.35 billion in 2020
BCE reports 2020 Q4 and full-year results