Bell has won regulatory approval for its second bid to buy Astral Media and its coveted suite of TV speciality channels and radio stations in a deal worth $3.4 billion.

The Canadian Radio-television and Telecommunications Commission announced its decision Thursday after markets closed.

The CRTC rejected Bell’s initial bid for Astral last fall, saying it wasn’t in the best interests of Canadians.

But the regulator said the revised bid – in which Bell agreed to sell some of Astral’s specialty TV channels and radio stations – satisfied its concerns that the company would be too dominant in the market.

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