- Special shareholders meeting to be held on May 24, 2012
- Board of Directors unanimously recommends that shareholders vote in favour of the acquisition by Bell
MONTREAL, April 26, 2012 /CNW Telbec/ - Astral Media Inc. (TSX: ACM.A ACM.B) today announced that it filed its management information circular with Canadian securities commissions in preparation for its special shareholders meeting to be held at 10:30 a.m. (Montréal time) on Thursday, May 24, 2012, at Centre Mont-Royal, Auditorium Room, 2200 Mansfield Street, Montréal (Québec), Canada, H3A 3R8 (the "Meeting"). The circular is available at www.astral.com and has been filed on SEDAR at www.sedar.com.
The Board of Directors of Astral, acting on the unanimous recommendation of a Special Committee comprised solely of independent directors, has unanimously approved the transaction and recommends that Astral's shareholders vote FOR the special resolution approving the acquisition of all of Astral's issued and outstanding shares by BCE Inc. ("Bell") in accordance with the definitive agreement entered into on March 16, 2012 (the "Arrangement").
Astral's shareholders of record as of 5:00 p.m. (Montréal time) on April 5, 2012, will be entitled to receive notice of, and vote at, the Meeting. The information circular, which shareholders are expected to receive in the coming days, provides important information on the Arrangement and related matters, including voting procedures.
On April 19, 2012, the Québec Superior Court granted an interim order providing for the calling and holding of the Meeting and certain other matters related to the Meeting and the Arrangement. A copy of the interim order is included in the information circular.
This press release contains certain forward-looking statements relating to the proposed acquisition by BCE Inc. of all of the issued and outstanding shares of the Company. 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, court approval, shareholder approval and any required regulatory approvals, including approval by the CRTC, Competition Bureau and TSX. 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 Media Inc. (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 - that are 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 learn more about Astral, please visit Astral.com.
Based in Montréal, 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 BCE corporate information, please visit BCE.ca. For Bell product and service information, please visit Bell.ca. For Bell Media, please visit BellMedia.ca.
For further information:
Director, Corporate Communications and Synergies
Astral Media Inc.