breaking news: CRTC Approves Bell/Astral Merger

This is significant. We wrote about it a while back, but it looks like it’s come to pass. Canada’s media regulator, the CRTC, has approved the latest bid by Bell Media-parent BCE to acquire Astral Media for roughly US$3.4 billion. As a condition of this deal, Astral has to sell off certain assets, among them the Teletoon channels, including Teltoon itself, Teletoon Retro and Cartoon Network Canada. These particular channels are being picked up by Corus Entertainment as part of a CDN$494 million deal. Corus, for those who aren’t familiar, is the parent company of the animation producer Nelvana, and of broadcasters such as YTV and Treehouse.

Here’s the Globe and Mail coverage.

 

 

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