UPDATE 1-Astral Media earnings, revenue rise

Wed Oct 31, 2012 12:37pm EDT
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* Q4 EPS C$0.55 vs C$0.53 year earlier

* Revenue up 1.7 percent at C$251.8 million

* Shares fall 1.3 percent (Adds background on BCE deal, details on operating results, share price)

Oct 31 (Reuters) - Astral Media Inc reported a higher quarterly profit on Wednesday as revenue rose across its business segments.

Revenue from Astral's radio, television and outdoor advertising divisions rose, and operating expenses fell 2.5 percent.

BCE Inc, Bell Canada's parent, agreed in March to buy Astral, its largest content provider. But Canada's broadcast regulator blocked the C$3 billion bid earlier this month.

BCE had offered investors C$50 a share, a premium of nearly 40 percent to the stock's close the day before the deal was announced.

On Wednesday afternoon, Astral shares were down 1.3 percent at C$41.30 on the Toronto Stock Exchange.

Last week, Astral said BCE had opted to delay the deal's closing as it works to overturn the Canadian Radio-Television and Telecommunications Commission's ruling.   Continued...