This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Transaction To Unite Astral And Bell Media Moving Forward

Stocks in this article: BCE

  • Good news for consumers and creators as Bell Media readies significant new investment in Canadian content
  • Revitalizes competition in Canadian broadcasting, especially in Québec, meaning more content and delivery choices for consumers
  • TSN Radio 690 will continue to serve the passionate sports fans of Montréal
  • Bell's all-cash acquisition of Astral to close on July 5, 2013

MONTREAL, June 28, 2013 /CNW Telbec/ - Astral Media Inc. (Astral) and BCE Inc. (Bell) today announced that, with yesterday's approval by the Canadian Radio-television and Telecommunications Commission (CRTC), Bell has now obtained all necessary regulatory and other approvals to close its $3.2-billion acquisition of Astral on July 5, 2013.

"Together, Astral and Bell Media will deliver more for Canadians, investing in great new programming and innovative new ways to access it, and ramping up competition in the Canadian broadcasting sector. It all means unprecedented new choice for Canadian viewers and listeners," said George Cope, President and CEO of Bell and BCE. "As two long-established Montréal companies, Astral and Bell especially look forward to taking competition and choice in Québec media to a whole new level."

The combined company will be led by a team of senior Astral and Bell Media executives, and Montréal remains the centre for French-language programming. Bell Media will also open new regional development offices in Halifax, Winnipeg and Vancouver. Upon closing of the transaction, Astral President and CEO Ian Greenberg will join the BCE Board of Directors.

"The Astral team has built a uniquely successful Canadian media business in the last 50 years, and all of us are excited by the new possibilities ahead as we join with Bell Media," said Mr. Greenberg. "With our combined resources, we look forward to bringing truly great new French and English language programming and viewing options to consumers across the country."

1 of 3

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,677.90 +216.58 1.32%
S&P 500 1,950.82 +23.71 1.23%
NASDAQ 4,452.7920 +69.9450 1.60%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs