Astral records $158M loss for 2009

MONTREAL – A fourth quarter loss and an impairment charge on its radio licences helped to drag down Astral’s financial results for the year ended August 31, 2009.The company recorded a $317.5 million non-cash net impairment charge on the lower value of its radio broadcast licences, which contributed to a net loss of $158,025 million for the year. The Montreal-based media firm earned nearly $39 million last year.Consolidated revenues totaled $905.7 million for fiscal 2009, an increase of 5% over the $865.4 million recorded in fiscal 2008, while EBITDA increased by 4% to $300.4 million, from $289.6 million last year.Consolidated...