BCE (Bell) announced plans to acquire Montréal-based Astral Media Inc. (Astral), which operates specialty and pay television channels, radio stations, digital media properties and out-of-home advertising platforms in Québec and across the rest of Canada. The deal was at approximately CDN$3.38 billion, representing a premium of 39% based on Astral’s volume-weighted average closing share price on the TSX for the last five trading days.
Bell said the acquisition strengthens its competitive position in Canada’s French-speaking market and directly supports its strategy of investment and innovation in broadband networks and content.
“Bringing together two respected and longstanding Montréal brands, Bell’s acquisition of Astral firmly
establishes our company as Québec’s media leader. Bell is gaining a well-seasoned national Astral
management team, dramatically expanding our French-language content, and more than levelling the
playing field with our largest broadcast media competitor in Québec. We greatly look forward to welcoming
Astral’s renowned leader Ian Greenberg to our Board of Directors,�? said George Cope, President and
CEO of BCE Inc. and Bell Canada.
http://www.bce.ca
