Standard to sell for $1 billion

MONTREAL and TORONTO – The Slaight family sold its company, Standard Radio, to Astral Media today for $1.08 billion. The combined company will be the largest radio broadcaster in Canada and, says Astral, "achieves No.1 radio market position by number of stations and by weekly hours tuned. The purchase makes Astral a national radio player, adding brands such as EZ Rock, Mix, The Bear and the CFRB newstalk format to Astral's popular Quebec brand Radio Energie. Astral did not purchase the Slaight's interest in satellite radio company Sirius Canada nor Standard Interactive, which runs assets such as multichannel Internet streaming...