Bell to acquire national electronics retailer The Source
<<
Supports Bell\'s strategy to accelerate wireless and leverage momentum
in digital television, high-speed Internet and home phone services
Adds more than 750 stores across Canada to Bell\'s
national distribution network
>>
MONTREAL, Quebec, March 2 /CNW Telbec/ - Bell today announced it has
agreed to acquire national consumer electronics retailer The Source to further
enhance the growth of Bell\'s wireless, digital TV, Internet and home phone
services.
\"The Source is a respected leader in consumer electronics retailing right
across Canada. Its acquisition supports Bell\'s strategic imperatives to
accelerate wireless and leverage momentum in wireline services like Bell TV,
Bell Internet and Bell Home Phone,\" said George Cope, President and CEO of
Bell and BCE.
\"With its strong national presence, brand, and management team, acquiring
The Source represents a competitive and cost-effective approach to ensuring
Bell\'s leadership in delivering the best communications products to
Canadians,\" Mr. Cope said. \"Expanding the number of places people can buy Bell
products is a core element in the execution of Bell\'s strategy to achieve our
goal: To be recognized by customers as Canada\'s leading communications
company.\"
In addition to its extensive lineup of consumer electronics products, The
Source plans to carry the full array of Bell consumer services at its more
than 750 stores across Canada, including Bell Mobility, Solo Mobile and
potentially Virgin Mobile wireless products and services, Bell TV\'s
industry-leading High Definition television services, high-speed Bell
Internet, and Bell Home Phone products, by January 2010.
The Source will continue to operate independently from Bell following its
acquisition and will maintain its well-known national brand, broad range of
communications, computing and audio products, and its seasoned management team
to be led by Ron Cuthbertson, a respected 30-year retail veteran and most
recently President of The Source.
\"The Source\'s new relationship with Bell will make the most of the
combined strengths of both organizations in terms of products, service and
national brand strength,\" said Mr. Cuthbertson. \"Combining Bell\'s
industry-leading roster of communications services with the brand,
distribution presence, and consumer retailing expertise of The Source will
contribute positively to the long-term growth of both businesses going
forward.\"
The Source has a track record of profitability over the past seven years.
LTM (latest twelve month) revenue as of December 31, 2008 was approximately
$643 million while LTM EBITDA(1) (earnings before interest, taxes,
depreciation and amortization) was approximately $27 million for the same
period.
The acquisition of The Source and its more than 750 retail stores, most
of them in high-traffic mall locations, is a faster and more cost-effective
approach to increasing Bell\'s national distribution footprint than building
out new retail locations. More than 70% of Canadians live within five
kilometres of stores operated or licensed by The Source, and more than 80
million technology-savvy consumers shop at The Source each year.
Bell is acquiring substantially all of the assets of The Source, which
was acquired by Circuit City Stores, Inc. in March 2004. On November 10, 2008,
Circuit City and certain of its U.S. subsidiaries voluntarily commenced
bankruptcy proceedings under Chapter 11 of the United States Bankruptcy Code
and The Source commenced a voluntary proceeding under the Companies\' Creditors
Arrangement Act (CCAA). Bell is acquiring The Source pursuant to the court
monitored sale process being managed by NM Rothschild & Sons Canada Ltd. in
connection with the proceedings under the CCAA.
Subject to court approval and other customary conditions to closing, the
transaction is expected to close in Q3 2009. Due to the nature of the sale
process and at the request of The Source, Bell does not expect to disclose the
purchase price until after the completion of the transaction.
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Final history of iPhone Rogers at Molson
According to Marie-Hélène Lagacé from Molson with whom we could discuss a few minutes to get more information. We have been informed that it was a mistake by the advertising company that created this promotion and that Molson had no agreement with Rogers Wireless and Apple Canada. The iPhone has been removed and the complete rules changed. However, the section announced the iPhone in the rules of the competition Molson says now: \"Model offering 8GB of storage, and a touch screen including accessories for a maximum value of 800$. Prizes to be win, when available on the Canadian market. (Not before January 2008). Not included in the subscription network or any other charges related to its use. \". Do you have any idea of a device that will not be available on the market before January 2008, which has a touch screen and a storage space 8GB? Of course the only device that may look like these features is the iPhone. So we contacted representatives of Molson to know what device was now available. Representatives of Molson seemed extremely angry and \"close the discutions,\" they say. Molson has no idea of the device that will be offered and mentions that the prize could be change into money.
The regulations are only available in French since the change
yesterday
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The iPhone in Canada with Rogers in 2008 in a Moslon contest
We have know informationa bout a contest, organized by the Canadian beer company Molson and Moslon Dry, offered a iPhone for prize. A website of Moslon (
www.deviseetcompte.com Twist and Score) mentions that the iPhone, which is offered in the contest will be available only in January 2008 from Rogers. We have contacted the customer service representative and she said, yes it\'s a iPhone from Rogers. The iPhone won at Molson can be won now, but not work before the announcement officially by Rogers and also offers its clients in January 2008, according to the representative of customer service. The site is only available in French, however, provides the rules of contest in English in which we also found a mention of Apple iPhone. It seems that the iPhone will be available at a price of $ 800, and as the iPhone is not sold without a contract it can be assumed that the iPhone will be very expensive here in Canada. This contest end on January 4, 2008.
UPDATE October 24 13h37We have contact media represent of Rogers and Rogers Wireless "Have no comment" and they recommand to contact Molson for more information. No answer from Molson at this time...
Apple iPhone Unlocks & Jailbreaks ( 2G, 3G, 3GS ) Click Here !
See in the rules du of contest
See on the website
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Toshiba launches cards SDHC of 32 gig and 16 gigs
Toshiba has just announced officially the availability in October from high card, capacity SD of 32gig and 16gig. It will cost of them approximately 350 $ for card SDHC 16gig. Card SDHC of 32 gig will be as for it available to January for approximately 700 $ what is very expensive, but which offers also a very great capacity in a so small card. Let us recall that it is memory board SDHC are not compatible with the readers or the devices which support only the cards SD, cards SDHC require readers of new generation.
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It is finished for the mobile division of BenQ
BenQ announced the true end of its mobile division. The subsidiary company of BenQ had been bought of Siemens, which wanted to precisely demolish itself some for financial problems. It is truly the bankruptcy which entrainé the fall of the manufacturer who employed 3000 people. The attife of benQ Mobile will not even be enough for not paid the debts to BenQ Mobile. For the last production of cellular BenQ, 160 employees remained in the company at January 31 and approximately 2300 employees were moved in other companies.
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The Motorola Razr with Bell
The cellular subsidiary of Bell Canada, Bell Mobility, today announced that the Motorola Razr is now available in its catalog. It is available in its V3c and is available anywhere in Canada from 31 January. With a contract of 3 years you will be offered at a price of $ 149.99. Rogers and Fido already offers cellular ca.
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