Bell Denied Astral Media Purchase by CRTC
The federal broadcast regulator has unconditionally rejected BCE Inc.'s $3.4-billion takeover of Astral Media.
The CRTC says the controversial deal would have placed too much power in the hands of one company and threatened the competitive media landscape in Canada.
Many had expected the regulator would approve the deal with conditions, but the decision by the Canadian Radio-television and Telecommunications Commission left little room for doubt where it stood, or the possibility it would view favourably an amended request by BCE.
The acquisition of Astral would have given BCE, already the biggest player in the English TV market, an additional 25 channels, including The Movie Network, HBO Canada and French-language Super Ecran, Family Channel and Disney Junior and more than 80 radio stations.
Ultimately CRTC officials said that it's just too much power.
Newstalk 1290 is owned by Astral Media.