Canadian telecom company BCE posts 39 pct drop in profit
Nov 7 (Reuters) - BCE Inc, Canada's biggest telecom company, posted a 35 percent slump in quarterly profit, hurt by costs related to its $3 billion acquisition of Astral Media earlier this year.
BCE's net earnings fell to C$343 million ($329 million), or 44 Canadian cents per share, in the third quarter ended Sept. 30 from C$527 million, or 68 Canadian cents per share, a year earlier.
The Montreal-based parent of Bell Canada said it paid C$230 million to meet regulatory obligations related to the Astral deal.
BCE closed the deal to buy Astral, which owns radio stations, cable TV channels and a billboard network, in July.
Excluding one-time items, BCE earned 75 Canadian cents per share.
Operating revenue rose to C$4.52 billion from C$4.39 billion.