bell gets astral

After rejecting their initial bid of $3.4 billion, CRTC have given the nod to Bell to take over Astral Media. In its second bid, Bell has promised to sell some of Astral's speciality TV channels and radio stations (ie locally,  Boom 97.3). This is to satisfy CRTC concerns that the deal would make Bell too dominant in the Canadian market.

Here's more of the complicated mumbo-jumbo from the big boys:

OTTAWA-GATINEAU, June 27, 2013 — Today, the Canadian Radio-television and Telecommunications Commission (CRTC) approved an application by Astral Media Inc. to sell its pay and specialty television channels, conventional television stations and radio stations to BCE Inc. The CRTC’s approval comes with a number of conditions that are necessary to uphold the public interest.

“Astral’s application put forward a different approach and responded to many of our concerns” said Jean-Pierre Blais, Chairman of the CRTC. “Yet there remained a significant risk that BCE could exert its market power to limit choice and competition. To ensure the public interest is served, we are requiring BCE to invest in new Canadian programming and sell more than a dozen services, and we are putting in place a number of competitive safeguards. This will maintain a healthy and competitive broadcasting system that offers more programming choices to Canadian consumers and citizens and more opportunities for Canadian creators.”