Astral Media Revenues Rise For Fiscal Q1

Growth In Q1

ASTRAL MEDIA first quarter fiscal 2011 revenue grew 7% to C$267.1 million, leading to an 11% increase in net earnings to C$53.3 million (C94 cents/share).  The company's radio revenue grew 3% to C$91.631 million, but EBITDA declined 5% to C$29.556 million due to Copyright Board tariff increases.

Meanwhile, CORUS and COGECO have announced that they will oppose ASTRAL's appeal of the CRTC grant of the sale of CORUS' QUEBEC stations to COGECO.  ASTRAL filed its appeal on THURSDAY, but CORUS and COGECO said in press releases that they still plan to close on the deal by FEBRUARY 1st.

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