CRTC OKs Corus buying rest of Teletoon from Astral, as part of BCE-Astral deal

The Canadian Press 0

GATINEAU, Que. – The CRTC has given its approval for Corus Entertainment Inc. (TSX:CJR.B) to buy Astral Media’s half ownership in Teletoon.

Corus already owned half of Teletoon and the divestment of Astral’s share was among conditions set by the CRTC in approving the $3.4-billion purchase of Astral (TSX:ACM.B) by BCE Inc. (TSX:BCE).

The regulator also approved a bid by Corus to buy Astral’s French-language channels Historia and Series+, which were owned 50 per cent by Astral and 50 per cent by Shaw Communications (TSX:SJR.B).

The Canadian Radio-television and Telecommunications Commission also has outstanding applications from Corus to buy two Astral radio stations.

The Competition Bureau already approved the asset sales, totalling $494 million, to Corus.

The CRTC required Bell to sell 11 TV services and seven radio stations that belonged to Astral as part of the deal, approved earlier this year.

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