You will be redirected back to your article in seconds

Astral Media to raise funds for acquisitions

Montreal-based co. to offer 2 mil nonvoting shares

TORONTO — Astral Media will issue 2 million class A nonvoting shares in order to raise about $C77 million ($52.4 million).

Montreal-based Astral plans to use the funds to reduce its debt and for “general corporate purposes, including acquisitions,” the company said. “We’re interested in acquiring additional French-language radio stations in Montreal and Quebec City,” spokesman David Novek said, “and in specialty TV services, if they become available.”

Astral owns half of the Family Channel, Corus Entertainment the other half. Astral is reportedly eager to acquire Corus’ stake after Canadian regulators recently directed the latter to unload its share of Family Channel as part of an ownership ruling. Astral Media is a subsidiary of the Astral Broadcasting Group, Canada’s largest specialty, pay, and pay-per-view TV company, holding 20 network licenses.

More Biz

  • Stranger Things Season 2

    Netflix Plans to Raise Another $1.5 Billion in Debt Financing for Original Content

    TORONTO — Astral Media will issue 2 million class A nonvoting shares in order to raise about $C77 million ($52.4 million). Montreal-based Astral plans to use the funds to reduce its debt and for “general corporate purposes, including acquisitions,” the company said. “We’re interested in acquiring additional French-language radio stations in Montreal and Quebec City,” […]

  • Harvey Weinstein ousted

    Weinstein Co. Adds Board Member to Navigate Bankruptcy Sale

    TORONTO — Astral Media will issue 2 million class A nonvoting shares in order to raise about $C77 million ($52.4 million). Montreal-based Astral plans to use the funds to reduce its debt and for “general corporate purposes, including acquisitions,” the company said. “We’re interested in acquiring additional French-language radio stations in Montreal and Quebec City,” […]

  • Allison Mack

    'Smallville' Actress Allison Mack Arrested in Sex Cult Case

    TORONTO — Astral Media will issue 2 million class A nonvoting shares in order to raise about $C77 million ($52.4 million). Montreal-based Astral plans to use the funds to reduce its debt and for “general corporate purposes, including acquisitions,” the company said. “We’re interested in acquiring additional French-language radio stations in Montreal and Quebec City,” […]

  • Harvey Weinstein

    Harvey Weinstein Still Seeking His Emails to Combat Sexual Assault Claims

    TORONTO — Astral Media will issue 2 million class A nonvoting shares in order to raise about $C77 million ($52.4 million). Montreal-based Astral plans to use the funds to reduce its debt and for “general corporate purposes, including acquisitions,” the company said. “We’re interested in acquiring additional French-language radio stations in Montreal and Quebec City,” […]

  • Ken Ziffren and Claudia EllerVariety Power

    Attorney Ken Ziffren Offers Sobering Take on Film Business at Variety's Power of Law Breakfast

    TORONTO — Astral Media will issue 2 million class A nonvoting shares in order to raise about $C77 million ($52.4 million). Montreal-based Astral plans to use the funds to reduce its debt and for “general corporate purposes, including acquisitions,” the company said. “We’re interested in acquiring additional French-language radio stations in Montreal and Quebec City,” […]

  • ynon-kreiz

    Media Exec Ynon Kreiz Named CEO of Mattel

    TORONTO — Astral Media will issue 2 million class A nonvoting shares in order to raise about $C77 million ($52.4 million). Montreal-based Astral plans to use the funds to reduce its debt and for “general corporate purposes, including acquisitions,” the company said. “We’re interested in acquiring additional French-language radio stations in Montreal and Quebec City,” […]

  • courtney braun

    Courtney Braun Named Head of Legal Affairs for Endeavor

    TORONTO — Astral Media will issue 2 million class A nonvoting shares in order to raise about $C77 million ($52.4 million). Montreal-based Astral plans to use the funds to reduce its debt and for “general corporate purposes, including acquisitions,” the company said. “We’re interested in acquiring additional French-language radio stations in Montreal and Quebec City,” […]

More From Our Brands

Access exclusive content