logo
Share SHARE
FONT-SIZE Plus   Neg

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 RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Transmission utility ITC Holdings Corp. announced Tuesday that it has entered into an agreement and plan of merger to be acquired by Canadian electric and gas utility company Fortis Inc. in a deal valued at approximately $11.3 billion. ITC shareholders will receive $22.57 in cash and 0.7520 Fortis shares per ITC share. The Coca-Cola Company (KO) reported that its fourth-quarter net income to shareowners increased to $1.24 billion or $0.28 per share from $770 million or $0.17 per share, last year. Adjusted earnings per share was $0.38, for the quarter. On average, 21 analysts polled by Thomson Reuters expected the company... With a view to promoting the all new Prius brand in U.S., Toyota has launched a lighthearted commercial. It highlights the reinvention of the hybrid technology. The advertisement was aired during the first half of Super Bowl 50 and was well received in social media.
comments powered by Disqus
Follow RTT