UPDATE 3-Astral, BCE try again to get regulatory nod for takeover

Mon Nov 19, 2012 12:59pm EST
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* Canadian broadcast regulator rejected first proposal

* BCE, Astral give no specifics on revised plan

* Say new plan would offer same terms to Astral shareholders

* Combination's English-language dominance worried regulator

Nov 19 (Reuters) - BCE Inc, Canada's biggest telecom company, is seeking regulatory approval for a revised C$3 billion ($3 billion) plan to take over Astral Media Inc after the country's broadcast regulator rejected its previous bid.

Astral and BCE, the parent of Bell Canada, said on Monday they have filed the revised application with the regulator, the Canadian Radio-television and Telecommunications Commission (CRTC), which last month blocked BCE's original bid for Astral.

Astral owns specialty television channels, radio stations, and an outdoor advertising business, and is BCE's biggest content provider.

A deal for Astral would give BCE more direct control over costs and boost its access to programming for its television and wireless customers, particularly those in Quebec, where both companies are based.

BCE and Astral gave no specifics on their revised proposal except to say the amount payable to Astral shareholders would be the same as under the original plan.   Continued...