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elwoodblues
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reply to sbrook

Re: Great news! - CRTC blocks Astral buy by Bell

Sbrook,I'm speculating here, to me it's a regulatory issue, I say they are heading to the SCC, because the Federal courts may/will dismiss it, and up the chain it goes.



elwoodblues
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reply to sbrook

said by sbrook See Profile

It's why golf is so effective.

I miss JF.



sbrook
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reply to El Quintron

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.



sbrook
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reply to elwoodblues

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



elwoodblues
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reply to sbrook

said by sbrook:

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.

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

said by El Quintron:

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 Bell drops it they owe Astral a bucket of cash, but that bucket of cash would probably end up being cheaper than taking a legal challenge like this all the way to the supreme court.


Gone
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reply to sbrook

said by sbrook:

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

Bell will try to and claim it was an error in law, you can bet on that.

MaynardKrebs
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reply to epsilon3

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.



Gone
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They've already hinted that they aren't fond of the dominant position of the incumbents by relaxing foreign investment rules.

I suspect this ruling will be the start of a reigning in on vertical integration and market consolidation.



dillyhammer
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reply to elwoodblues

said by elwoodblues:

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



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

Mike
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dillyhammer
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reply to El Quintron

said by El Quintron:

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 Astral's shareholders had half a brain collectively they'd nix the Bell deal and start looking for another suitor pronto.

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
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jobr

join:2004-10-21
Halifax, NS
reply to epsilon3

From »www.theglobeandmail.com/globe-in···4623306/ :

Cope: ""If my competitors are happy, how can that be good for consumers? That's impossible, it doesn't even make any sense."

I honestly can't even begin to comprehend his mindset. He seems to be saying that anything that Bell wants is good for consumers, anything its competitors want is bad for consumers.

Does he even believe that himself?


epsilon3

join:2008-03-29
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I wanted to say "what an idiot" ...but is not that ...is worst ... what an evil mind !!!!! Damn, I hate Bell with all my heart as they are just full of bullshit and arrogant!



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reply to MaynardKrebs

said by MaynardKrebs:

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.

This ^^


El Quintron
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reply to dillyhammer

said by dillyhammer:

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

Mike

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

Thanks Mike.
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El Quintron
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reply to dillyhammer

said by dillyhammer:

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'd like to propose that what you just said up there is part of the reason the CRTC ruled the way they did, by doing this, they effectively killed Bell's bid for Astral.
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dillyhammer
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reply to El Quintron

said by El Quintron:

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.

»www.theglobeandmail.com/globe-in···4622241/

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.

That would go a long way in shoring up Astral's stock I think.

I'm just wondering what Cogeco would have to cook up to raise that kind of cash. Some unholy partnership with someone, I'm sure.

Mike
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elwoodblues
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I read something else today, that they could all collectively create a company to hold and share the channels from Astral.

Of course I see that working like water and oil. I'm waiting for the Bell/Robbers fight over MLSE to start,you know it's going to happen.
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El Quintron
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reply to dillyhammer

said by dillyhammer:

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

»www.theglobeandmail.com/globe-in···4622241/

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...
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dillyhammer
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said by El Quintron:

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...

Yeah, for sure something tangibly lower. But only because I think Bell was willing to pay an inflated price. Astral may have been able to play hardball with Bell on some stuff, but that's a game Audet is familiar with. That, and I think Astral is a bit spooked and would probably just want to get something done.

Yeah, 85% sounds about right give or take.

Interesting times ahead.

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
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El Quintron
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said by dillyhammer:

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

The tone of their press releases is pretty shrill, so my impression is that they thought this was in the bag.

I'm wondering what possessed them to treat this like a done deal when many have been refused for less.
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Gone
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said by El Quintron:

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.

As I said, there were some very recent rulings related to simsubs and local content requirements that one would have thought would be a formality and approved under Konrad, yet were outright denied with scathing reasons by the CRTC. To call it an about-face switch would be an understatement. After seeing those, the writing was sort of on the wall for this deal to be denied. Bell are merely so delusional and so full of themselves that they were the only ones who didn't see it.

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.


El Quintron
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said by Gone:

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'm going to assume the policy direction is being changed, and the new CRTC chair is probably making sure decisions are in line with it.

Good news over all I'm pretty happy with this "new" CRTC so far.

EQ
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HeadSpinning
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reply to El Quintron

said by El Quintron:


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.
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Gone
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said by HeadSpinning:

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

They'll probably make a move on it anyway. That, and they're from Quebec, so the whole whining over Quebec losing its voice won't apply and they'll be in a good position to take it whole.


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reply to Gone

said by Gone:

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.

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.

MaynardKrebs
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said by silvercat:

Would be cool to have local Niagara news.

What, like:

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


silvercat

join:2007-11-07

LoL



Gone
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reply to silvercat

said by silvercat:

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.

It has dedicated call letters, that's rather interesting. I didn't even know it was approved, though. I know they ran into all sorts of problems in Hamilton. I'm going to have to run a rescan on my TV to see if anything comes up, but I doubt it will.


Gone
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reply to MaynardKrebs

said by MaynardKrebs:

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

Probably incessant bitching about the NHS and car accident after car accident on the QEW.

In other words, identical to what you'd get out of London, Kitchener, Barrie and Windsor.