Bell Buys Astral For $3.38 Billion

Canada's largest telecommunications company BCE Inc. reports it has reached an agreement to buy Astral Media Inc. for $3.38 billion in cash and stock, giving the Montreal-based company a slate of media assets that include television channels and radio stations across Canada.

Astral is noted as Canada's largest pay and specialty TV broadcaster, owning 83 radio stations in 50 Canadian markets.

Bell's new acquisitions include Astral television stations HBO Canada, the Movie Network and the Family Channel, as well as radio stations under brands like Virgin Radio and EZ Rock.

"We believe that the transaction with Bell is an excellent opportunity for Astral, its shareholders and employees," said Astral president and CEO Ian Greenberg. "After 15 years as commercial partners, we know each other well and share many important values."

As with all things Canadian, the transaction will require approval from the Canadian Radio-television and Telecommunications Commission (CRTC) and the Competition Bureau before it's a done deal.

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"21 Jump Street" Leaps Into Theatres March 16, 2012

"21 Jump Street", the 2012 action comedy film from Columbia Pictures, Metro-Goldwyn-Mayer, Original Film and Relativity Media, opens March 16, 2012.

The original Vancouver-lensed 1980's dramatic TV series the film is based on, was created by Patrick Hasburgh and Stephen J. Cannell.

Actor Johnny Depp starred in the original series for Stephen J. Cannell Productions in association with 20th Century Fox Television and makes a cameo appearance in the new film :

"...'Schmidt' (Jonah Hill) and 'Jenko' (Channing Tatum) are more than ready to leave their adolescent problems behind.

" Joining the police force and the secret 'Jump Street' unit, they use their youthful appearances to go undercover in a local high school.

"As they trade in their guns and badges for backpacks, Schmidt and Jenko risk their lives to investigate a violent and dangerous drug ring. But they find that high school is nothing like they left it just a few years earlier and neither expects that they will have to confront the terror and anxiety of being a teenager again and all the issues they thought they had left behind..."

Click the images to enlarge and Sneak Peek "21 Jump Street"...