Astral Closes On Standard Deal
October 30, 2007 at 5:42 AM (PT)
ASTRAL MEDIA has closed on its purchase of STANDARD RADIO for C$1.08 billion. The deal gives ASTRAL 82 stations across CANADA, making it the nation's largest radio broadcaster.
"The acquisition of STANDARD RADIO positions ASTRAL MEDIA as CANADA's leading radio broadcaster with unsurpassed national coverage," said ASTRAL CEO IAN GREENBERG.
"Our national network of 82 radio stations now enables us to offer advertisers an unprecedented access to highly defined audiences at the local level through some of the best radio brands in the country. In today's changing media world, radio remains a very powerful and exciting medium that positions us well for future growth."