17773
17358

Business

Bell continues fight for Astral

by The Canadian Press - Story: 82216
Oct 22, 2012 / 7:08 pm

Bell (TSX:BCE) is asking the federal cabinet to direct the CRTC to follow its own policies after the regulatory body nixed its $3.4-billion takeover of Astral Media, but the government says it has no plans to intervene.

Bell said Monday it has asked cabinet to issue a "policy direction'' under Section 7 of the Broadcasting Act, which requires the CRTC to follow its already in-place policies when reviewing change of control transactions in broadcasting.

However, a spokesman for Heritage Minister James Moore said late Monday the government has no jurisdiction to intervene in the decision of the independent body.

"The CRTC held public hearings and has rendered its decision on this matter," press secretary Sebastien Gariepy said in an email.

"CRTC decisions are made independent of the Government of Canada. Cabinet has no legal ability to overturn this decision."

The Canadian Radio-television and Telecommunications Commission turned down the friendly takeover of Astral last week, saying it wasn't in the best interests of Canadians.

CRTC commissioner Jean-Pierre Blais said had the regulator allowed the deal, BCE would have controlled almost 45 per cent of the English TV viewership and almost 35 per cent of the French.

But Bell disagrees, saying Bell and Astral combined would have an English-language TV market share of 33.5 per cent and the combined companies would have a 24.4 per cent stake in the French-language TV market, both within the rules.

The discrepancy arises because Bell included U.S. competitors in the calculations, while the CRTC did not.

As well, it would have become the largest radio station operator in Canada and control over half of TV pay and specialty services.

The Canadian Press
How does this story make you feel? (88 total votes)
Castanet MoodMeter
Angry
11.4%
Happy
71.6%
Sad
2.3%
Thrilled
3.4%
Disappointed
5.7%
Skeptical
5.7%


Read more Business News

16719


Today's Market

S&P TSX 12613.05 +105.45
S&P CDNX 934.68 +1.82
DJIA 15354.40 +121.18
Nasdaq 3498.965 +33.722
S&P 500 1667.47 +17.00
Gold 1361.00 -26.10
Lumber 316.00 -4.50
Oil 96.02 +0.86
Natural Gas 4.058 +0.126
CDN Dollar 0.9725 N/A

_


Okanagan Companies

Sun Rype 6.00 0.00
Pacific Safety 0.045 +0.005
Knighthawk 0.02 0.00
QHR Technologies Inc 0.55 -0.03
Cantex 0.015 0.00
Anavex Life Sciences 0.54 +0.05
Metalex Ventures 0.075 -0.005
Russel Metals 26.65 -0.25
Copper Mountain Mining 1.52 -0.16
Colorado Resources 1.48 +0.46
ReliaBrand Inc 0.13 0.00

_







15494

FEATURED Property
15829983893 Sonoma Pines Drive
3 bedrooms 3 baths
$464,000
more details
image2image2image2
view all featured properties
Click here to feature your property
Please wait... loading


Tips for a stress-free summer move

The majority of Canadians prefer to make their big move during the summer season. There are a variety of reasons for choosing this time of year: it is easier to transport boxes in non-icy condition...


Income properties for sustained recovery

It appears as though more people these days are looking for an investment in real estate which offers cash flow returns. The fundamentals of cash flow type properties had been turned upsi...


Get in the Loop

Getintheloop Marketing Ltd. recently launched their membership platform, Getintheloop.ca. The new website offers an exclusive members area for access to discounts in the South Okanagan on premium res...

_


Previous Stories


17496

FIND MORE
Position yourself in the Okanagan's most visually comprehensive business directory.

Showcase your business like no other marketing can and Join the growing number of businesses that get more customers.
Learn more here



17357

RSS this page.
(Click for RSS instructions.)

Member of BC Press Council