Canada’s broadcast regulator has given a thumbs-down to B-C-E’s controversial 3.4-billion-dollar takeover of Astral Media.
The C-R-T-C says the deal would have placed too much power in the hands of one company and threatened the competitive media landscape in Canada.
Many had expected the regulator would approve the deal with conditions.
B-C-E’s competitors earlier launched a major ad campaign promoting an online petition and telling Canadians to add their names.
The acquisition of Astral would have given the biggest player in the English T-V market an additional 25 channels and 80 radio stations.