CRTC approval also required; transaction expected to close in mid-2012

MONTREAL, May 2, 2012 /CNW Telbec/ – The Competition Bureau confirmed
today that it has no plans to challenge Bell’s acquisition of an
ownership position in Maple Leaf Sports and Entertainment (MLSE), while
noting that the Competition Act provides a one-year period following
completion of such transactions during which it can bring the matter
before the Tribunal.

MLSE is Canada’s largest sports and entertainment company and owner of
the premier professional sports teams in Canada’s largest marketplace:
The Toronto Maple Leafs, Toronto Raptors, Toronto Marlies and Toronto
FC. On December 9, 2011, Bell announced it had, in a joint ownership
arrangement with Rogers Communications Inc. (Rogers), agreed to
purchase a net 75% ownership position in MLSE from Ontario Teachers’
Pension Plan Board. Bell’s cash commitment will total $525 million, or
$398 million assuming the completion of a leveraged recapitalization of
MLSE.

The acquisition secures on a long-term basis access to TV, mobile,
digital online and radio broadcast rights for both Bell and Rogers to
MLSE’s sports teams. Bell’s investment in MLSE is part of its strategy
to deliver Canada’s best content across world-leading broadband
networks to any screen customers may choose.

The transaction is expected to close in mid-2012 following Canadian
Radio-television and Telecommunications Commission (CRTC) and sports
league approvals.

About Maple Leaf Sports and Entertainment
MLSE is one of the world’s premier sports and entertainment companies
that owns the Toronto Maple Leafs (NHL), the Toronto Raptors (NBA), the
Toronto Marlies (AHL), Toronto FC (MLS), Air Canada Centre, Maple Leaf
Square and three digital channels – Leafs TV, NBA TV Canada and GOLTV
Canada. MLSE has also invested in four of Toronto’s sports facilities –
Ricoh Coliseum, home of the Marlies, BMO Field, home of Toronto FC,
Lamport Stadium, and the MasterCard Centre for Hockey Excellence, the
practice facility for the Maple Leafs and Marlies. MLSE operates and
manages events at Ricoh Coliseum and BMO Field.

About Bell
Bell is Canada’s largest communications company, providing consumers and
business with solutions to all their communications needs, including
Bell Mobility wireless, Bell Internet high-speed, Bell Satellite TV and
Bell Fibe TV, Bell Home Phone local and long distance, and Bell
Business Markets IP-broadband and information and communications
technology (ICT) services. Bell Media is Canada’s premier multimedia
company with leading assets in television, radio and digital media,
including CTV, Canada’s #1 television network, and the country’s
most-watched specialty channels.

The Bell Mental Health Initiative is a multi-year charitable program
that promotes mental health across Canada via the Bell Let’s Talk
anti-stigma campaign and support for community care, research and
workplace best practices. To learn more, please visit Bell.ca/LetsTalk.

Bell is wholly owned by BCE Inc. (TSX, NYSE: BCE). For Bell product and
service information, please visit Bell.ca. For Bell Media, please visit BellMedia.ca. For BCE corporate information, please visit BCE.ca.

Caution Concerning Forward-Looking Statements
Certain statements made in this news release, including, but not limited
to, statements relating to the proposed acquisition by Bell, in a joint
ownership arrangement with Rogers Communications Inc., of a net 75%
ownership position in Maple Leaf Sports and Entertainment (MLSE) from
Ontario Teachers Pension Plan Board, the expected closing date of the
transaction, certain strategic benefits expected to result from the
transaction, and other statements that are not historical facts, are
forward-looking. Forward-looking statements, by their very nature, are
subject to inherent risks and uncertainties and are based on several
assumptions which give rise to the possibility that actual results or
events could differ materially from our expectations expressed in or
implied by such forward-looking statements. As a result, we cannot
guarantee that any forward-looking statement will materialize and you
are cautioned not to place undue reliance on these forward-looking
statements. The forward-looking statements contained in this news
release describe our expectations as of the date of this news release
and, accordingly, are subject to change after such date. Except as may
be required by Canadian securities laws, we do not undertake any
obligation to update or revise any forward-looking statements contained
in this news release, whether as a result of new information, future
events or otherwise. Forward-looking statements are provided herein for
the purpose of giving information about the proposed transaction
referred to above and its expected impact. Readers are cautioned that
such information may not be appropriate for other purposes. The timing
and completion of the above-mentioned proposed transaction is subject
to customary closing conditions, termination rights and other risks and
uncertainties including, without limitation, required CRTC and sports
league approvals. Accordingly, there can be no assurance that the
proposed transaction will occur, or that it will occur on the timetable
or on the terms and conditions contemplated in this news release. The
proposed transaction could be modified, restructured or terminated.
There can also be no assurance that the strategic benefits expected to
result from the transaction will be fully realized.

SOURCE BELL CANADA