BCE
BCE | Market Cap: $20.0B (07/13/26)
Industry:
Telecom Media & Entertainment
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DESCRIPTION

BCE is Canada's largest telecom company, offering wireless, wireline, and media services to residential, business, and government customers across Canada. Bell CTS, the dominant segment at ~87% of revenue, covers three main areas: wireless mobile services sold under the Bell, Virgin Plus, and Lucky Mobile brands (~10.5M mobile phone subscribers); wireline Internet and TV sold primarily in Ontario, Québec, Atlantic Canada, and Manitoba (~4.5M retail Internet subscribers on a fiber footprint covering ~8M homes and businesses); and enterprise connectivity, cloud, managed IT, and cybersecurity services sold to business customers under the Ateko and Bell Cyber brands. Bell Media (~13% of revenue) owns CTV, the Crave streaming service, TSN and RDS sports channels, 55 radio stations, and Astral, an out-of-home advertising business. Bell CTS Canada earns revenue primarily through recurring monthly subscriber fees, with revenue driven by subscriber counts and ARPU. Bell Media earns through advertising and subscriptions. BCE's growth strategy centers on U.S. fiber expansion via its C$5B acquisition of Ziply Fiber in the Pacific Northwest, deepening fiber penetration in already-built Canadian markets, growing enterprise tech services, and shifting Bell Media toward streaming and digital advertising. BCE formed a joint venture with PSP Investments to fund U.S. fiber expansion off-balance sheet, with ambitions to reach up to 8M U.S. fiber locations.

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