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BCE's new bid to buy Astral

Bell Canada and Astral Media Inc. have submitted a new proposal to the federal broadcast regulator, saying they've found ways to address the CRTC's concerns over the level of ownership concentration in some markets.

The companies say in the joint announcement that the revised deal is worth $3.38 billion, subject to approval by the CRTC and the Competition Bureau, about the value as the original deal.

Bell and Astral say their proposal includes steps they'd take to comply with ownership thresholds.

They say details of the new Astral-Bell proposal will be made available by the Canadian Radio-television and Telecommunications Commission when it launches a public consultation on the application.

Bell Canada's parent (TSX:BCE) originally agreed in March to buy Montreal-based Astral (TSX:ACM.B) for $3.4-billion but the CRTC killed the deal last month.

The Canadian Press

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