Bell to Acquire Astral

MONTREAL: Canada’s largest telecommunications company, BCE Inc., is acquiring all of the issued and outstanding shares of Astral Media and its specialty and pay-TV channels, radio stations, digital media properties and out-of-home advertising platforms.

The transaction, valued at C$3 billion in cash and stock, expands Bell’s activities in the French-language market. Astral operates 22 TV stations, including 13 French-language channels; these include Super Écran, The Movie Network and HBO Canada, and top specialty brands such as Canal Vie, Canal D, VRAK TV, MusiquePlus, Télétoon/Teletoon, Family and Disney Junior. Other assets include 84 radio stations, more than 100 websites and digital media properties and some 9,500 out-of-home advertising signage locations in Québec, Ontario and British Columbia.

"Bringing together two respected and longstanding Montréal brands, Bell’s acquisition of Astral firmly establishes our company as Québec’s media leader," said George Cope, the president and CEO of BCE Inc. and Bell Canada. "Bell is gaining a well-seasoned national Astral management team, dramatically expanding our French-language content, and more than leveling 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. Astral’s strong financial position enables Bell to further accelerate our significant investment in broadband innovation across Québec, such as our launch this month of ultra high-speed fibe service directly to homes and businesses across Québec City and our rollout of next-generation mobile LTE. With our advanced networks and next-generation mobile TV and fibe TV services, Bell looks forward to delivering Astral’s unbeatable content to customers in new and innovative ways."

"This transaction with Bell represents an exciting moment in the history of Astral, and an excellent opportunity for our company, our shareholders and our employees. We have come to know Bell very well as a long-time commercial partner, and the fit between our two companies is a natural," added Ian Greenberg, the president and CEO of Astra Media. "On behalf of the Greenberg family and Astral’s Board of Directors, I would like to thank all of our employees across the different regions of Canada. Without their commitment and hard work, we could not have achieved this level of success."