Telemedia Sells and Monetizes Astral Media Shares

On May 13, 2003, Telemedia Corporation sold and monetized 5,333,333 class A non-voting shares held in Astral Media Inc. The value of the transaction was approximately $130 million.

Telemedia was represented by Stikeman Elliott LLP, with a team that included Franziska Ruf, Frédéric Harvey, Sterling Dietze, Anthony Penhale, Charles Gagnon and Nicolas Vanasse. Charles Reagh of Stewart McKelvey Stirling Scales represented Telemedia and TD Securities Inc. in connection with Nova Scotia legal matters. Osler, Hoskin & Harcourt LLP represented the underwriter, TD Securities, with a team that included Ward Sellers, Constantine Troulis, François Auger, François Janson, Martine Trudeau and Andrew Scipio del Campo.