As a weeklong hearing into entertainment company BCE Inc.’s attempted buyout of Astral Media Inc. drew to a close in front of Canada’s communications regulator, BCE reportedly drew the line at which is would divest assets in order to win approval for the deal. BCE, looking to buy Astral for $3 billion, has reportedly decided against selling anymore television or radio stations to secure the acquisition and has told the Canadian Radio-television and Telecommunications Commission that if the company were asked to sell more stations, it would not proceed with the deal. This marks the second time the parties have come before the regulator this year; the nation’s Competition Bureau has cleared the deal, and the companies have already agreed to divest certain television channels. In a statement, the company said that it has “already put our best foot forward” for a successful acquisition.
Full Content: The Globe and Mail
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Justice Department Moves to End NCAA Transfer Rule
May 30, 2024 by
CPI
Kenya’s Competition Authority Proposes Tougher Regulations on Big Tech
May 30, 2024 by
CPI
KKR Secures EU Antitrust Approval for $24 Billion Acquisition of Telecom Italia’s Fixed-Line Network
May 30, 2024 by
CPI
European Court Sides with Tech Giants in Italian Regulatory Dispute
May 30, 2024 by
CPI
US Steel and Nippon Steel Secure International Approvals for $14.9B Merger
May 30, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Merger Guidelines Retrospective
May 21, 2024 by
CPI
Mergers of Complements
May 21, 2024 by
CPI
Personality Traits, Private Equity, and Merger Analysis
May 21, 2024 by
CPI
The 2023 Merger Guidelines: Lessons in the Importance of Incipiency, Modern Economics, and Monopsony
May 21, 2024 by
CPI
The 2023 Merger Guidelines: Sharpening Merger Analysis
May 21, 2024 by
CPI