Canadian broadcaster's earnings up 11%
MONTREAL — Canuck broadcaster Astral Media reported boffo financial results for the year ended Aug. 31, powered by its pay TV channels.Net earnings from continuing operations surged 11% to C$127.1 million ($131 million) from $119 million a year earlier on revenue up 8% to $667 million, up from $615 million. For the fourth quarter, net earnings from continuing operations was up 17% to $35 million from $30 million on revenue up 10% to $167 million from $152 million for the same quarter the previous year. Montreal-based Astral is one of Canada’s leading pay TV and radio-station owners, with a host of TV channels in English and French, including Teletoon, Family Channel, MusiquePlus and Canal Vie. TV revenue for the year was $490 million, up from $444 million. TV revs for the fourth quarter were $121 million, up from $109 million a year earlier. During the year Astral acquired the 50% it didn’t already own in MusiquePlus, the country’s leading francophone musicvideo network, and all the assets of Standard Radio, which turned Astral into Canada’s largest radio station owner.
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