Astral Radio gets regulatory go-ahead to proceed with $13.4M purchase of Shore FM

MONTREAL – Astral Media Radio has received CRTC approval to move forward with its purchase of Vancouver-based Shore Media Group Inc., three months after the Commission initially halted the deal. As Cartt.ca reported, the Commission denied the acquisition after determining that it ran afoul of its licence trafficking policy. But the CRTC has now approved the $13.4 million transaction which is set to be completed early next year. Shore Media is the radio licence holder for CHHR FM 104.3 (Shore FM). Astral also owns Virgin Radio 95.3 and AM 650, plus a nine-face digital outdoor advertising network in the Vancouver market. "We...