Source : Hollywood Reporter

TORONTO _ Canadian media group Bell Globemedia, which owns and operates the national TV network CTV, on Wednesday reported a return to profit in the fourth quarter on higher TV ratings and airtime sales from hit U.S. network shows.

Toronto-based Bell Globemedia, which also operates the Globe and Mail national newspaper, posted fourth-quarter earnings of CAN$39 million ($29.2 million) on revenue of CAN$375 million ($281.2 million). That compares with a loss of CAN$493 million in the year-ago period because of asset write-downs on revenue of CAN$379 million.

The results came as BCE Inc., the Canadian phone giant and parent of Bell Globemedia, released its own quarterly financial report.

Bell Globemedia's total fourth-quarter revenue was relatively unchanged as lower newspaper advertising income was offset by stronger TV advertising sales.

CTV, which has 13 of the top 20 most-watched TV programs on Canadian television, saw its TV advertising revenue increase 8% thanks in part to the strong performance of such shows as "CSI: Crime Scene Investigation" and "Law & Order."

BCE president and CEO Michael Sabia told analysts during a conference call that Bell Globemedia had done "an excellent job" during the latest quarter because of ratings strength at CTV.

Meanwhile, Bell ExpressVu Llp., BCE's direct-to-home satellite service, said it added 35,000 new customers during the latest quarter, taking its subscriber base to 1.38 million households.

That performance was down from the 83,000 new subscribers that Bell ExpressVu recruited in fourth-quarter 2002.

Bell ExpressVu has begun losing steam during the past year as rival cablecasters lure more basic TV subscribers to their fold with such added-value services as video-on-demand and interactive services.

© Hollywood Reporter