Cancom Sells Shares in ExpressVu to BCE.MISSISSAUGA, ONTARIO--(BUSINESS WIRE)--June 19, 1998-- Canadian Satellite C(TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :SAT.) (ME:SAT.) Cancom (Canadian Satellite Communications Inc.) is pleased to announce that it has sold its 8.5 percent equity ownership in ExpressVu to BCE BCE abbr. 1. Bachelor of Chemical Engineering 2. Bachelor of Civil Engineering BCE Abbreviation for before the Common Era. for approximately $13 million. The transaction results in a total recovery of the investment Cancom has made in ExpressVu since its creation in 1994. Cancom also concluded an agreement with ExpressVu to supply the DTH (Direct-To-Home) Typically refers to satellite TV broadcasting directly to a dish antenna on the roof of a house. See DBS. operator with a minimum of five Cancom signals over the next five-years, as well as the American superstation WSBK, Boston. Duncan McEwan, Cancom President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. stated: "The sale of our interest in ExpressVu permits us to redeploy re·de·ploy tr.v. re·de·ployed, re·de·ploy·ing, re·de·ploys 1. To move (military forces) from one combat zone to another. 2. our capital resources towards growth in our specific areas of expertise, while at the same time concluding an excellent affiliation agreement between the Cancom Broadcast Solutions division and ExpressVu which provides us with a valuable revenue stream for a considerable period of time." BCE is Canada's largest telecommunications company See telecom company. . The BCE group includes: Bell Canada Bell Canada Enterprises (TSX: BCE, NYSE: BCE), legally BCE Inc., is a major Canadian telecommunications company. Through its subsidiaries including Bell Canada, Bell Aliant, Northwestel, Télébec, and NorthernTel, it is the incumbent local exchange carrier for , the principal supplier of communications services in Ontario and Quebec; Nortel (Northern Telecom), a global leader in the design and building of telecommunications networks; Bell Canada International, a leading supplier of telecommunications services in markets outside of Canada; BCE Mobile, a provider of wireless services in Ontario and Quebec under the Bell Mobility banner; and Tele-Direct, a Yellow Pages(TM) directory publisher operating in Canada and internationally. BCE's shares are traded in Canada, the United States and in Europe. Cancom is Canada's leading expert in evaluating, selecting, integrating and implementing satellite-based solutions for business. Cancom operates in four main lines of business. Cancom Broadcast Solutions delivers a wide range of digital TV signals to thousands of communities and provides video distribution to a number of broadcasters across the continent. Cancom Tracking Solutions provides tracking and messaging for the Canadian trucking industry. Cancom Learning Solutions builds and maintains private satellite interactive distance learning networks and communications for business and governments. Cancom Data Solutions designs, implements, and manages multi-protocol, Internet/Intranet-based networks that link hundreds of branch and head offices. It trades on the Toronto and Montreal Stock Exchanges Montreal Stock Exchange See Bourse de Montreal, Inc. (Canadian Derivatives Exchange) (SAT).
CONTACT: Cancom:
Patricia Dumas, 905/272-6603
pdumas@cancom.ca
Cancom web site: http://www.cancom.ca
or
BCE
Don Doucet, 514/397-7192
bcecomms@bce.ca
BCE web site: http://www.bce.ca
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