Canadian Broadband → Great news! - CRTC blocks Astral buy by Bell

said by sbrook

It's why golf is so effective.

It could be said that Astral's board were acting in a fiscally irresponsible manner in accepting Bell's offer since the chances of failure were so high. In some ways it just turns out to be another pump and dump stock scam.

Of course, as a corporate entity they're obliged to push it as far as it can go... in fact Astral's shares dropped by about 17% today due to the refusal... so even if Bell were to drop it, Astral's shareholders would most likely demand that the matter be pushed all the way to the SCC

If it's a regulatory issue, then it has no business going to any court unless there was an error in law.

And the Audet family were trying to unduly enrich themselves with a premium demanded for their shares.

Of course, as a corporate entity they're obliged to push it as far as it can go... in fact Astral's shares dropped by about 17% today due to the refusal... so even if Bell were to drop it, Astral's shareholders would most likely demand that the matter be pushed all the way to the SCC

If the government really wanted this decision to stick, they'd let it be known that they are going to ask the Competition Bureau to look into functional separation in the radio, television, wireless, content, wireline, and internet access businesses.

That would shut the incumbents up right quick if they knew what was good for themselves.

Mentioning the Audet family in the same thread that Astral Media is mentioned in makes my skin crawl. Just sayin....

Mike

Having their share value held hostage by a Bell/CRTC/SCC imbroglio - which could potential take a year or more - could be deadly.

They best be putting on a pretty dress and start flashing their little hiny around town.

Mike

I didn't know what you were talking about until I looked it up... and now I have the crawlies too.

Thanks Mike.

I think we'll probably see Audet take a[nother] pretty good run at Astral sooner rather than later. Like, any minute now.

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I mean, the nails are already in the coffin for Bell on this. If Audet were even seen as mildly interested, and he surely is, that would just drive those nails home even further.

I'd be betting he'll pick it up for about 85% or what Bell was going to get it for... I don't know how they get away with this crap...

You know what else I'm wondering about?

Which heads are going to roll at Bell over this. Has to happen. No way a deal of this size can get killed and no-one takes a fall. Somebody has to take the fall. Willingly or otherwise.

Mike

I'm wondering what possessed them to treat this like a done deal when many have been refused for less.

Under Konrad they more or less got everything they asked for without even so much as a second thought. The winds of change started when Clement put the kybosh on it. Since then things have tightened up, and this is especially evident now that a new sheriff is running the show.

I'd be betting he'll pick it up for about 85% or what Bell was going to get it for... I don't know how they get away with this crap...

I wonder if Cogeco would have done the Atlantic Broadband deal knowing that Astral might come back in to play.

I'm hoping that the CRTC really starts forcing local news and content requirements on the networks, which in turn will mean that the CKVR transmitter Bell has applied for in Fonthill - to which they openly and completely admit is for no purposes other than simsubs - is either denied, or approved on the condition that it is a full transmitter that provides local coverage to the half a million people who live in the Niagara Region. CTV Two Niagara - I like the sound of that.

Would be cool to have local Niagara news.

CTV Two (CKVP) is already broadcasting out of Fonthill. Not sure if they are broadcasting local content. Probably not ? I agree that they should. Would be cool to have local Niagara news.

Tonight's top story - Vern's truck didn't start again. Film at 11.