Astral earnings edge higher

July 09, 2009 Canadian cable and pay TV broadcaster Astral Media on Thursday saw its third quarter earnings and revenue edge higher, but weathering the economic downturn is getting harder as ad sales slump. "While our subscriber revenues continued to rise, advertising sales were affected by the industry-wide decline in demand which continued to spread into all of our major markets in the third quarter," Astral Media CEO Ian Greenberg reported. While insisting visibility was low, Greenberg told analysts during a morning call that the Canadian TV ad market will remain soft through the fourth quarter.

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