MONTREAL, May 31, 2013 /CNW Telbec/ - Astral Media Inc. (Astral) and BCE
Inc. (Bell) today announced that, in accordance with the terms of the
transaction arrangement agreement dated March 16, 2012, as amended on
November 19, 2012 (the "Arrangement Agreement"), Bell has elected to postpone the Outside Date from June 1, 2013 to
July 31, 2013.
Originally announced on March 16, 2012, Bell's proposed $3.38-billion
transaction to acquire Astral was approved by shareholders representing
more than 99% of Astral shares and the Québec Superior Court. On March
4, 2013, Astral and Bell announced that the Competition Bureau had
cleared the acquisition of Astral by Bell.
The transaction remains subject to closing conditions, including CRTC
approval. There can be no assurance that the transaction will occur, or
that it will occur on the terms and conditions currently contemplated.
This press release contains certain forward-looking statements
concerning the future performance of Astral, including, but not limited
to, statements relating to the proposed acquisition by Bell of all of
the issued and outstanding shares of Astral. 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 our control. We disclaim any intention or
obligation to update or revise any forward-looking statements. The
completion of the above-mentioned proposed transaction is subject to
customary closing conditions, termination rights and other risks and
uncertainties including, without limitation, any required regulatory
approvals, including approval by the CRTC. Accordingly, there can be no
assurance that the proposed transaction will occur, or that it will
occur on the terms and conditions contemplated in this news release.
The proposed transaction could be modified, restructured or terminated.
Founded in 1961, Astral (TSX: ACM.A ACM.B) is one of Canada's largest
media companies. It operates several media properties — pay and
specialty television, radio, out-of-home advertising and digital media
properties — among the most popular in the country. Astral plays a
central role in community life across the country by offering diverse,
rich and vibrant programming that meets the tastes and needs of
consumers and advertisers alike. To find out more about Astral, go to astral.com.
BCE Inc. (TSX, NYSE: BCE) is Canada's largest communications company,
with the Bell and Bell Aliant brands providing a comprehensive and
innovative suite of broadband wireless and wireline communication
services to residential and business customers across Canada. Bell
Media is Canada's premier multimedia company with leading assets in
television, radio and digital media, including CTV, Canada's #1
television network, and the country's most-watched specialty channels.
For more information, please visit BCE.ca.
For further information:
Advisor, Corporate Communications
Astral Media Inc.
Jean Charles Robillard
Vice-President, Finance and
Chief Financial Officer
Astral Media Inc.
BCE Investor Relations