Astral Media posts higher earnings

Copied from Media in Canada - Money

As BCE takes a second run at acquiring Astral Media, the indie broadcaster on Thursday posted higher earnings and revenues.

Montreal-based Astral said second quarter earnings rose 8% to $41.2 million, on overall revenues up 2% to $237.1 million.

Astral said its TV subscriber revenue rose 3% to $116.3 million during the latest quarter, driven by mainly specialty TV.

And TV advertising revenue fell 1% to $26.8 million and radio advertising revenue also fell 1% to $73.2 million.

Total advertising revenue rose by 1% to $120.7 million, Astral reported.

The CRTC, which rejected the first BCE takeover application for Astral, will consider the revised bid during public hearings that start May 6.