Elevate your local knowledge
Sign up for the iNFOnews newsletter today!
Astral Media Q2 profit, revenue, cash flow increase over year-earlier comparables
MONTREAL – Astral Media Inc. (TSX:ACM.A) (TSX:ACM.B) says it had $41.2 million in net earnings in the quarter ended Feb. 28, up eight per cent from the year earlier period.
The profit amounted to 73 cents per share of diluted earnings, up from 69 cents a year earlier.
Revenue also increased slightly, rising to $237.1 million from $233.5 million while cash flow from operations rose nine per cent to $54.7 million.
The Montreal-based radio, television and outdoor advertising company is seeking regulatory approval to be acquired by BCE Inc. (TSX:BCE).
The quarter included $4 million of costs attributed to the friendly deal between BCE’s Bell and Astral.
The two companies submitted a revised deal during the quarter that included plans to sell some assets under an agreement with the Competition Bureau.
The Canadian Radio-Television and Telecommunications Commission rejected the original deal, citing the high level of market penetration the two companies would have in some markets
News from © The Canadian Press, . All rights reserved.
This material may not be published, broadcast, rewritten or redistributed.
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
Join the Conversation!
Want to share your thoughts, add context, or connect with others in your community?
You must be logged in to post a comment.
