Shares surge by 38% on the 'transformational' C$170 million ($161 millon) deal.
The media arm of state-controlled Gazprom bought mining tycoon Vladimir Potanin's Profmedia.
One option discussed is to break up Time Warner Cable's cable assets and split then between the two companies.
Say they are poaching work from the pair by luring clients who are unsettled by the $35.1 billion deal.
Strategic shift to higher-margin business seen as a response to activist investor Daniel Loeb.
Forecasts weaker ad performance in the current quarter.
Adds 35,000 pay-TV subscribers, 75,000 broadband subscribers in third quarter.
Weakness at Australian newspapers takes toll; shares fall 4% in after-hours trading.
Shares in Rupert Murdoch's dominant pay-TV operator fall 10% after it is outbid for soccer rights by BT.
World's second-largest visitor attractions operator plans to use new capital to expand in Asia and U.S.
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