Bell Canada Acquires Astral
Bell Canada has agreed to purchase Astral Media for $3.38 Billion Canadian to combine the two Canadian media giants.
The acquisition will combine Bell’s 35 radio stations from the old CHUM group with Astral’s 84 creating numerous overlap over per market cap. The radio stations are an afterthought in this deal as Bell is looking for more video content it will control as it will add 22 English and 13 French networks to its possessions.
INSTANT INSIGHT: To Americans the closest comparison to what Bell will be in Canada would be if Time Warner Cable, Verizon, Disney’s TV holdings (ABC & ESPN), and Cumulus were one company holding the #1 or #2 spot in mobile phone, cable television, network television, sports, and radio holdings. Between Bell and Rogers there will be two companies dominating much of Canadian media.