BCE gets $111 mil from Sky Terra stake sale

To build out its broadcast and broadband networks

TORONTO -- Canadian phone giant BCE is to plough $111 million in proceeds from selling its stake in satellite operator SkyTerra Communications to equity player Harbinger Capital Partners into building out its broadcast and broadband networks.

On the broadcast side, BCE will launch later this year 3D content through its Bell TV HD pay-per-view movie service

Also in 2010, BCE will launch Internet-based TV services in Toronto and Montreal in competition with existing cable players Rogers Communications and Videotron Ltd.

In western Canada, BCE last year partnered with local phone giant Telus Corp. to extend its satellite TV service in Alberta and British Columbia under the Telus name.

BCE currently has just under 2 million video subscribers nationwide. The phone giant also paved the way for its upcoming IPTV launch with roll-outs of higher-speed Internet access services.