Canada regulator rejects BCE's bid for Astral on consolidation concern
APTORONTO -- Canada's broadcast regulator rejected BCE Inc.'s bid to buy Astral Media Inc. for US$3.4 billion, saying the deal would have resulted in an unprecedented level of consolidation in the country's media landscape.
October 20, 2012, 12:06 am TWN
BCE, Canada's largest telecommunications company, said Thursday it was “appalled” by the decision and vowed it would ask the federal cabinet to intervene. BCE had wanted to create a media powerhouse with more content to deliver to televisions, tablets and mobile devices.