Astral Media profit and revenue climb in second quarter

MONTREAL — Astral Media Inc. (TSX:ACM.A) (TSX:ACM.B) says it had $41.2-million in net earnings in the quarter ended Feb. 28, up 8% from the year earlier period.The profit amounted to 73 cents per share of diluted earnings, up from 69 cents a year earlier.Revenue also increased slightly, rising to $237.1-million from $233.5-million while cash flow from operations rose 9% to $54.7-million.The Montreal-based radio, television and outdoor advertising company is seeking regulatory approval to be acquired by BCE Inc. (TSX:BCE).The quarter included $4-million of costs attributed to the friendly deal between BCE’s Bell and Astral.The two companies submitted a revised deal during the quarter that included plans to sell some assets under an agreement with the Competition Bureau.The Canadian Radio-Television and Telecommunications Commission rejected the original deal, citing the high level of market penetration the two companies would have in some markets.

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