Astral & Bell Continue to Pursue Merger

MONTREAL: Astral Media has confirmed that it is still in discussion with Bell Canada Enterprises (BCE) over its proposed takeover, despite the Canadian Radio-television and Telecommunications Commission (CRTC) having shot down the first deal.

The two are continuing to pursue regulatory approvals for Bell’s takeover of Astral, including filing another application with the CRTC. The regulatory body previously blocked the acquisition, after declaring that the move was not in the public interest. Bell has postponed the Outside Date for an agreement to December 16. Both companies also have the right to further postpone the date to January 15, 2013.