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Bell secures competition approval for Astral takeover
2013-03-05 08:50:00| Telecompaper Headlines
(Telecompaper) Bell Canada had received clearance from competition authorities for its takeover over Astral Media. The transaction also requires approval by the Canadian Radio-television and Telecommunications Commission (CRTC). The Competition Bureau's approval is the result of an agreement under which Bell will sell a number of Astral TV services. Bell Media will retain the French-language SuperEcran, CinePop, Canal Vie, Canal D, VRAK TV and Z Tele, and the English-language services The Movie Network, which includes HBO Canada and TMN Encore. The divestitures respond to public interest concerns, including TV viewership share, identified by the CRTC in its October 2012 decision rejecting Bell's original application seeking approval of the Astral transaction. Overall, the divestitures will result in Bell Media having a French-language viewing share of 23.0 percent, below competitor Quebecor's 30.5 percent share. In English-language viewership, Bell Media will have a 35.7 percent share, 2.0 percent more than its current share. Bell Media first announced the takeover in March 2012 for CAD 3.38 billion and now expects to close the deal by June.
Tags: approval
competition
bell
takeover
Category:Telecommunications
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