Astral Media’s ebitda and cash flow from continuing operations, including television, radio and outdoor advertising activities, has almost doubled for the year ended Aug. 31.

‘The realization of our strategic vision to transform Astral Media into a pure play media company this past year has had a very positive effect on our operations and positions us for even stronger growth in the future,’ says Astral Media president and ceo Ian Greenberg.

During the past fiscal year, the company sold the AstralTech Video Duplication Centre for $26.5 million, closed the Astral Home Entertainment wholesaling operation, and says it intends to sell its controlling interest in Covitec Group.

Results from continuing operations during fiscal 2000 saw ebitda jump 97% to $61.7 million, compared with $31.3 million the previous year.

Cash flow for the same period was up 91% to $38.1 million or $1.97 per share from $19.9 million or $1.34 per share.

Revenues increased 105% to $283 million. Earnings before taxes increased 49% to $28.6 million, compared with $19.2 million the previous year, and net earnings increased 18% to $13 million from $11 million.

Earnings per share were $0.67 on an average of 19.3 million shares outstanding in the fiscal year, compared to $0.74 on an average of 14.9 million shares a year earlier.

Among the successes of the Astral’s continuing operations, its pay television services lead the pack this fiscal with subscriptions rolling in at record levels.

According to Andre Bureau, president and ceo of Astral Broadcasting Group, TMN-The Movie Network and Super Ecran had a combined subscription base of 921,000 at the end of September (tmn had 606,000 subs, se had 315,000), a 32% increase from 699,000 a year earlier.

Other highlights of fiscal 2000 include the opening of a $10-million state-of-the-art broadcasting centre in downtown Montreal to handle 50 channels for eight of Astral’s French-language services in the Quebec market.

Astral was also involved in 16 applications for digital specialty licences; the crtc is expected to decide on these by the end of the year.

In July 1999, Astral acquired 100% of Montreal media company Radiomutuel for $227 million, giving the company an additional four French specialty services, as well as myriad radio and outdoor advertising assets. *

-www.astral.com