logo
Plus   Neg
Share
Email

Telus Opposes Bell's Proposed Acquisition Of Astral Media

Canadian telecommunications company Telus Corp. (TU,T.TO,T.A.TO) said it has filed a submission to the Canadian Radio-television and Telecommunications Commission or CRTC, opposing Bell's potential acquisition of Astral Media and specifically the impact that an unprecedented concentration of market power in the broadcasting sector would have on Canadian consumers.

Telus said it supported the views expressed last week by the Say No to Bell coalition, comprised of Quebecor, Cogeco and Eastlink, as well as the concerns expressed by the Public Interest Advocacy Centre and its associates.

Telus also stated that Bell's proposed acquisition of Astral Media is not in the public interest; if the transaction is approved, Bell could hold a 49.51 per cent share of the English-language television audience share when joint venture assets such as Teletoon, which is 50 per cent owned by Astral, and MLSE assets, which are pending approval, are factored in.

Telus urged the CRTC to enforce and further strengthen its existing vertical integration safeguards to curtail anti-competitive conduct on all platforms: TV, distribution, mobile and broadband access to content.

In March 2012, Canadian telecom company BCE Inc. (BCE,BCE.TO), the parent company of Bell Canada, had agreed to acquire Québec's largest independent media company Astral Media Inc. (AAIAF.PK,ACM_A.TO) for C$50 per share in a deal valued at about C$3.38 billion, including C$380 million of debt.

by RTTNews Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Walmart is ditching its dress code policy and is testing a new dress code that will allows "associates" to wear blue denim and shirts of any solid color. The updated dress coded guidelines now allow employees to wear blue "jeggings" and blue jeans and shirts of any solid color, according to a Walmart... Canadian investment firm Fairfax Financial Holdings Ltd. has submitted a "stalking horse" bid worth C$300 million, or $237 million, for the Canadian unit of Toys "R" Us, according to court documents. A stalking horse bid is an initial bid on the assets of a bankrupt company. The bankrupt company will choose an entity from a pool of bidders who will make the first bid on its assets. The car rental market in the U.S. is consolidating as large car rental companies are buying smaller, local companies to expand their portfolio of premium and value brands. The key players in the U.S. market include Enterprise Holdings, Hertz Global Holding and Avis Budget Group. Let's take a look at some of the best and worst car rental companies in the U.S.
RELATED NEWS
Trade T.TO now with 
Follow RTT