MONTREAL – Astral Media’s billion-dollar acquisition of Standard Broadcasting closed today, giving the combined company 82 radio stations across the country.
"The acquisition of Standard Radio positions Astral Media as Canada’s leading radio broadcaster with unsurpassed national coverage," said Ian Greenberg, president and CEO of Astral Media, in the press release. "Our national network of 82 radio stations now enables us to offer advertisers an unprecedented access to highly defined audiences at the local level through some of the best radio brands in the country. In today’s changing media world, radio remains a very powerful and exciting medium that positions us well for future growth."
The company also acquires another 1,000 employees, bringing Astral’s new total to over 3,000 people.
Astral’s comprehensive national network now includes market leading brands such as CFRB, EZ Rock, The Mix and The Bear, adding breadth and depth to its English service, with a presence in 34 markets in eight provinces across Canada, complementing the popular brands Energie, RockDétente and boom fm in 13 francophone markets. “Through a combination of assets and expertise in television, radio, outdoor advertising and iMedia, Astral Media can now provide its customers with a national and yet highly targeted approach to reach their desired audiences through multiple channels,” reads the release
"Radio is well adapted to today’s mobile and time-pressured households. In the business of helping clients reach and influence their customers on a very personal level, radio is unrivalled," said Jacques Parisien, group president, Astral Media Radio and Astral Media Outdoor. "Our greatly expanded radio network, combined with Astral’s other media assets further strengthens advertisers access to audiences locally and nationally. The talent and insight of our 2,000 radio professionals, coupled with their commitment to airing the best quality entertainment and information, makes Astral Media’s offer unique in Canada. "
