Standard acquisition complies with all CRTC policies, says Astral

OTTAWA – Astral Media Radio Inc. is proposing a $63.3 million benefits package over seven years as it seeks regulatory approval for its $1.082 billion acquisition of 52 over-the-air radio stations and two small-market TV stations from Standard Radio Inc. Astral also pledges to take measures to ensure compliance by the Standard Radio stations that didn’t meet licence conditions with regard to Canadian content, and to pay any outstanding tangible benefit amounts connected to stations previously purchased by Standard that are included in the Astral deal. Referring to the deal as “evolutionary, and not revolutionary,” Astral tells the CRTC that...