Broadcaster Magazine

Acquisition of Astral by Bell: Astral Issues a Statement

Astral Media Inc. today issues a statement with respect to its acquisition by Bell. While it is Astral’s policy not to comment on market rumours or speculation, Astral today confirms that it is in discussions with Bell to continue pursuing regulatory approvals for Bell’s acquisition of Astral, including, among other options, the filing of an application with the Canadian Radio-television and Telecommunications Commission. The timing and details of any such application have not yet been determined. The Company will keep its investors informed of any significant developments in this respect.

The acquisition of Astral by Bell is subject to regulatory approval by the CRTC and the Competition Bureau. As announced on October 25, 2012, Bell has elected to postpone the Outside Date for an agreement to December 16, 2012, and each of Bell and Astral has the right to further postpone the Outside Date to January 15, 2013. There is no assurance that any transaction will occur or occur with the terms and conditions currently contemplated.