Astral Media profit rises after TV revenue grows
April 11 (Reuters) - Astral Media Inc, which is waiting for regulators to rule on a revised proposal to be acquired by BCE Inc, reported a 9 percent rise in second-quarter profit on higher television revenue.
The company, which creates and distributes television and radio content, said the outside date for the closing of the transaction is June 1, with the companies having the right to further postpone it to July 31.
Net profit rose to C$38.3 million ($37.6 million), or 68 Canadian cents per share, from C$35.0 million, or 63 Canadian cents per share, a year earlier.
Net earnings before acquisition and other costs, and Bell-Astral transaction costs rose 8 percent to C$41.2 million
Consolidated revenue rose 2 percent to C$237.1 million.
Rival Corus Entertainment Inc earlier in the day reported an 81 percent fall in second-quarter profit due mainly to lower television revenue.
- Obama condemns killing of reporter, U.S. hits militants in Iraq |
- Thai junta leader appointed PM by hand-picked parliament
- U.S. military failed in rescue attempt for journalist Foley |
- Afghanistan gives NYT reporter 24 hours to leave country
- Gaza war rages on, Hamas says Israel tried to kill its military chief |