Bell acquires all 765 “The Source” stores

Ian Hardy

March 2, 2009 4:47pm

bell-thesourceAfter Circuit City went belly up in the States, up here in Canada, InterTAN Canada operated 765 “The Source by Circuit City” stores. Back in January they said they have received “a number of formal proposals” to purchase them… and today Bell has announced they have agreed to purchase the retailer.

According to George Cope, President and CEO of Bell and BCE he said the main reason for the acquisition is because it “supports Bell’s strategic imperatives to accelerate wireless and leverage momentum in wireline services like Bell TV, Bell Internet and Bell Home Phone”.

Once the acquisition is completed (targeting Q3 2009), The Source will operate independently from Bell, but carry  all of Bell’s consumer services including Bell Mobility, Solo Mobile and maybe Virgin Mobile, Bell TV, Internet, and Home Phone products. Mr. Cope said “With its strong national presence, brand, and management team, acquiring The Source represents a competitive and cost-effective approach to ensuring Bell’s leadership in delivering the best communications products to Canadians. Expanding the number of places people can buy Bell products is a core element in the execution of Bell’s strategy to achieve our goal: To be recognized by customers as Canada’s leading communications company.”

Congrats Bell!
(Let’s hope you got a good deal like Rogers did with the Skydome purchase)

More here at Bell

  • Shawn

    This is good news for me :D

    Selling Bell instead of Rogers is a good move!

  • Shawn

    Rogers was being sold exclusively @ all Corporate stores….Dealer/Joint Venture stores were allowed selling Bell products…

  • criminalogic

    ha ha Right on bell.! take rogers by tha balls..lol im shure rigers generate ALOT of sales through Source by Circuit City,, and if bell (witch im shure they will) push rogers crap OUT of those 765 stores Bell customer base will Jump, and rogers decrease, who knows maybe one day bell will be one of tha top 2 telcoms again..lol they need to invest in there customer service and PR first though.! i trust bell more then telus or rogers etc but have there service and reps they have representing them.. good move bell

  • J

    SERIOUSLY? :(

    As if Bell could possibly do YET ANOTHER colossal mis-step.

    As another former Radio$h!t employee, I concur, RS/TheSource is a big fat steaming pile. They were NEVER competitive unless they were clearing out very outdated stock. The mandate seemed to be to cram as much steaming piles of trinkets into the store, and lie ("persuade") customers into buying.

    – Bell's mobile service blows

    – Bell's customer service blows

    – Bell blew a multi-billion $ takeover bid

    – And now they're investing in steamers which are only going to drop (they should have waited for Canada TheSource to file for bankruptcy, then snatch it for a bargain)

    Someone please tell me, why do I still own BCE stock??

  • Celly

    The reps at TheSource can press buttons on the cash register but they sure can't talk in any detail about the stuff they sell. Product knowledge is pretty much zero. I wonder if George has actually stepped foot into one of these stores himself. As an investor, I can't help but think we just bought ourselves an albatross.