Quebec businessman Ian Greenberg, a media giant who co-founded and then headed Astral Media, died Monday at the age of 79.
Mr. Greenberg was President and CEO of Astral Media from 1996 until the sale of Astral Media – at the time the largest owner of radio and TV channels in Canada – to Bell in 2013 in as part of a $ 3.38 billion transaction. In 1961 Ian Greenberg co-founded the family business with his older brothers Harold, Harvey and Sidney Greenberg. Ian Greenberg has served on the Bell Board of Directors since 2013.
As CEO of Astral Media, Mr. Greenberg took the gamble of transforming Astral Media, through several major transactions, into an integrated media company (radio, specialty TV, billboards) capable of offering advertising convergence to these advertisers. He also banked on the development of specialty TV channels in the 90s and 2000s. It was a successful gamble: under his leadership, Astral experienced 17 consecutive years of growth before being sold to Bell as part of a 2013 transaction valued at $ 3.38 billion. It is still the largest media transaction in Canada. Mr. Greenberg was also renowned for instilling and cultivating an entrepreneurial culture at Astral.
“With the passing of Ian Greenberg, Canada has lost a business visionary and media legend, and we at Bell have lost a wise and kind colleague and friend,” said Gordon Nixon, Chairman of the Board of Bell. , by way of press release. Ian has inspired all of BCE’s Board of Directors with his integrity, insight and optimism about the opportunities available to Canadian media, and he will be sorely missed. ”
“I am extremely proud to have known and worked with Ian Greenberg, a fellow Montrealer, a mentor and a daily inspiration to me,” said Mirko Bibic, President and CEO of Bell, by way of press release. As a partner of Ian in the BCE acquisition of Astral Media and Bell Media’s national expansion, I have always been impressed by his business acumen, natural integrity and warm sense. of humor. On behalf of the entire Bell team, I offer our sincere condolences to Ian’s family, friends and everyone who was fortunate enough to know him. ”
Born in 1942 in Montreal, Ian Greenberg grew up in a modest environment. Her mother Annie Greenberg raised her eight children in a modest three-room apartment in downtown Montreal. She died in 1961 when Ian was only 19. When their mother died, the four Greenberg brothers decided to found a business to unite their family even if they had no money. They name the company Angreen in honor of their mother. In 1961, Angreen was a photo service in the Miracle Mart. Angreen Photo wins its first major contract to sell souvenir photos on the site of the World’s Fair in Montreal in 1967. Astral then goes public in 1971 (the Greenberg family has always been the controlling shareholder of Astral due to of its shares with multiple votes).
In the 70s and 80s, Astral diversified by offering production services for cinema and television. The company is also launching into specialized television, in particular with Super Ecran, The Movie Network, the Canal Famille (now VRAK) and Family.
When his brother Harold died in 1996, Ian Greenberg succeeded him as CEO of the company. He then decided to transform Astral Media into a solely media company and to sell the assets in other sectors such as TV / cinema production. Astral Media then acquired several competitors in Canada in the radio and television industry, including Radiomutuel (1999), Télémédia (2002) and Standard Broadcasting (2007).
From 2007 to its sale to Bell in 2013, Astral was the largest owner of radio stations in Canada (it is a major player in both French in Quebec and in English across the country). The Montreal company was also the largest owner of TV channels not attached to a telecoms conglomerate. Before being sold to Bell in 2013 after a long regulatory process, Astral had 2,800 employees in 50 cities across the country, and generated annual revenues of over $ 1 billion.
Mr. Greenberg is survived by his wife Linda Greenberg, their three children and their grandchildren.