ASTRAL MEDIA WELCOMES CRTC DECISION TO APPROVE STANDARD RADIO ACQUISITION CNW Astral Media Inc. welcomes the Canadian Radio-television and Telecommunications Commission (CRTC) decision to approve the Company's acquisition of substantial y all of Standard Radio Inc.'s assets.
As a result of this transaction, Astral Media will become Canada's largest radio broadcaster operating 83 stations in eight provinces.
The Company expects to close the transaction on October 29, 2007.
Astral Media is a leading Canadian media company, active in specialty, pay and pay-per-view television, radio, outdoor advertising and the Internet. Astral Media's solid and dynamic presence in the country's major markets rests on its commitment to offer a unique combination of high-quality, targeted media for all its audiences.
This press release contains certain forward-looking statements concerning the future performance of the Company. These forward-looking statements are based on current expectations. We caution that all forward-looking information is inherently uncertain and actual results may differ materially from the assumptions, estimates or expectations reflected or contained in the forward-looking information, and that actual future performance will be affected by a number of factors, including technological change, economic conditions, regulatory change, competitive factors and changes in accounting rules or standards, many of which are beyond the Company's control. We disclaim any intention or obligation to update or revise any forward-looking statements. |