RE:RE:RE:RE:RE:This year's Capital destroyer award goes to I think you made the same mistake you stopped reading at the top part that was interpreted by the news agency (CNW) and didn't actually read the quote...
Your link is the same thing I already posted
this first paragraph is the media interpreting the news
The actual quote from Mirko is below...
Did he say pay down debt???
MONTRAL, Sept. 18, 2024 /CNW/ - BCE Inc. today announced that it has reached an agreement to sell its ownership stake in MLSE for CA$4.7 billion to Rogers Communications Inc. ("Rogers"), subject to relevant sports league and other customary approvals. The transaction is expected to close in mid-2025. BCE currently intends to direct proceeds of this sale towards reducing debt levels and to support its ongoing transformation from telco to techco with a focus on core growth drivers.
In addition, Bell Media has secured access to content rights for the Toronto Maple Leafs and Toronto Raptors on TSN for the next 20 years through a long-term agreement with Rogers, also subject to league approvals. This deal cements TSN's place as Canada's Sports Leader, delivering Canada's best and most-watched sports content. TSN will also continue to broadcast Toronto Argonauts and Toronto FC games through independent agreements with the respective leagues.
Bell will remain the official telecom sponsor of the Toronto Raptors and will maintain its sponsorships of the Toronto Argonauts and Toronto FC, demonstrating its commitment to MLSE, its great teams, their fans and the leagues. This includes continued support for joint community initiatives through Bell for Better, like Bell Inbound Assist (opens in new window) with the Toronto Raptors.
Quotes
"We are proud of our time as co-owners of these iconic sports teams, and through this agreement have ensured that fans can count on Bell's continued support of their teams. Today's announcement demonstrates that we are focused on creating the financial flexibility to support our ongoing transformation and core growth drivers."
- Mirko Bibic, President & CEO, BCE Inc. and Bell Canada
"This agreement confirms TSN's position as Canada's Sports Leader with long-term access to content rights to some of Canada's most beloved sports teams. At the heart of this deal are passionate fans, which TSN will continue to serve across all of our platforms with the premium coverage that audiences expect from Canada's Sports Leader."
- Sean Cohan, President, Bell Media