Astral Media shares halted pending announcement

Fri Nov 16, 2012 10:01am EST
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Nov 16 (Reuters) - Shares of Astral Media Inc were halted by the Investment Industry Regulatory Organization of Canada on Friday, pending an announcement from the company.

The halt followed a newspaper report earlier in the day that Astral and its suitor BCE Inc, are poised to announce a new takeover deal that seeks to overcome regulatory opposition with a plan to auction off a number of Astral's English broadcast assets.

Spokesmen for the two companies declined to comment.