MONTREAL—BCE Inc. is launching Bell Media, a new business unit that is making CTV programs and other Bell content available on smartphones and computers as well as traditional TV.

BCE (TSX: BCE) said Friday that it has completed its $3.2-billion acquisition of the national broadcaster and will update its 2011 financial guidance to reflect the CTV acquisition when it reports first-quarter results on May 12.

“Our acquisition of Canada’s No. 1 media company leverages our strategic investments in broadband networks and services and enables our promise to deliver the content Canadians want most across every screen — smartphone, tablet, computer and TV,” chief executive George Cope said in a statement.

The telecom giant was given the green light to expand its media empire last month by the CRTC.

But the CRTC has ordered BCE to invest $245 million in the Canadian broadcasting industry, including $100 million to commission independently produced programs of national interest such as drama and comedy series.

Torstar Corp. (TSX: TS.B) said Friday that it had completed the sale of its 20 per cent interest in CTV Inc. for $291.6 million, after adjustments. The amount was in addition to the $40 million Torstar received Dec. 31 for its stake in the Globe and Mail from Woodbridge Company Ltd., which now holds 85 per cent of the Globe.

Shares in BCE were up 17 cents at $35.39 in morning trading Friday on the Toronto Stock Exchange.

Bell Media also operates 29 specialty channels, including Business News Network, Discovery Channel, Much, MTV, The Comedy Network, Space, and TSN and RDS, It also has 33 radio stations, including TSN Radio 1050 set to launch April 13; Dome Productions, a mobile broadcast facilities provider, and dozens of high-traffic news, sports and entertainment websites, including Sympatico.ca portal.

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