A published report today says BCE Inc. is close to a deal that will see it take over Astral Media after selling off some of the media company's English-language assets to clear regulatory hurdles.
Citing unnamed sources familiar with discussions between the two companies, the Globe and Mail reported Friday that the two companies have been working on a deal to link up in a way that would satisfy regulatory requirements.
A $3 billion tie-up pitched earlier this year was scuttled last month after the Canadian Radio-television and Telecommunications Commission said consumers and cultural products wouldn't be well-served by the transaction.
The paper said the core of the new deal will see BCE take over Montreal-based Astral with a pledge to sell off a number of assets in an auction to rivals, enough to keep its reach small enough to get approval from Canada's broadcast regulator.
Negotiations are so advanced, the paper said, that a deal could be made public as early as Friday.
Neither BCE and Astral immediately responded to a request for comment on the story by CBC News.
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