Astral Media announces increase in share buyback program

    MONTREAL, July 30 /CNW Telbec/ - Astral Media Inc. (TSX: ACM.A/ACM.B)
today announced that it has received approval from the Toronto Stock Exchange
(TSX) to increase the number of shares it may purchase under its normal course
issuer bid program. The Company may now purchase up to 2,732,749 Class A
Shares and up to 139,401 Class B Shares. This represents no more than 5.0% of
the 54,654,999 issued and outstanding Class A Shares as at November 30, 2007
and no more than 5.0% of the 2,788,022 issued and outstanding Class B Shares
as at November 30, 2007. The shares will be purchased for cancellation through
the facilities of the TSX in accordance with its applicable regulations. The
Company's program began on December 13, 2007 and continues until December 12,
2008. Since commencing the program, the Company has purchased 1,400,000 of its
Class A Shares at an average price of $34.63 per share and none of its Class B
    On a daily basis, the Company will not be entitled to purchase more than
25% of the average daily trading volume calculated for the period of six
months ended on November 30, 2007, on its Class A Shares being 33,210 Class A
Shares and a maximum of 1,000 of its Class B Shares. The Company believes that
the purchase of the Class A Shares and Class B Shares is an economically
worthwhile use by the Company of its funds and is in the best interest of the
Company and its shareholders.

    Astral Media is a leading Canadian media company, active in specialty,
pay and pay-per-view television, radio, outdoor advertising and iMedia. 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.

For further information:

For further information: Claude Gagnon, Senior Vice-President and Chief
Financial Officer, Astral Media Inc., (514) 939-5000

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Astral Media Inc.

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