TORONTO – Astral Media is a “strong and resilient company” who is well equipped to weather an economic storm, president and CEO Ian Greenberg told shareholders at their annual meeting on Tuesday.
Calling 2008 a "strong year of growth" for the company, he counted among its successes the addition of new, “internationally recognized brands” to the Astral Media portfolio such as HBO Canada, Playhouse Disney and Virgin Radio, as well as the launch of the Teletoon Retro channel and the rebranding of French music station MusiquePlus.
“We achieved record results while successfully integrating Standard Radio into our Company; while implementing the Toronto Street Furniture contract; while adding new channels to our TV offering and delivering a stellar television performance … These results show the soundness and the resilience of our business model. They are evidence of the quality, depth and discipline of our management team,” he said in a press release.
And, unlike many in the media, Greenberg sounded almost optimistic about 2009.
“In spite of the economic environment, this company, more than ever, remains growth-driven, attentive to customer needs and willing to innovate. We will continue to actively support development programs, marketing and sales… We are committed to investing in growing our products and investing in innovation where we feel concrete value will be created”, he continued.
Astral also announced the renewal of its normal course issuer bid to repurchase up to 5% of its Class A Shares and Class B Shares.
