Astral Media posts higher earnings
The release of the Q2 results comes ahead of the CRTC considering BCE's second application to acquire the indie broadcaster on May 6.
As BCE takes a second run at acquiring Astral Media, the indie broadcaster on Thursday posted higher earnings and revenues.
Montreal-based Astral said second quarter earnings rose 8% to $41.2 million, on overall revenues up 2% to $237.1 million.
Astral said its TV subscriber revenue rose 3% to $116.3 million during the latest quarter, driven by mainly specialty TV.
And TV advertising revenue fell 1% to $26.8 million and radio advertising revenue also fell 1% to $73.2 million.
Total advertising revenue rose by 1% to $120.7 million, Astral reported.
The CRTC, which rejected the first BCE takeover application for Astral, will consider the revised bid during public hearings that start May 6.
From Playback Daily