The federal Competition Bureau has given the green light to CanWest Global Communications Corp.'s acquisition of Alliance Atlantis Communications Inc.

Alliance Atlantis released the news Monday morning before the opening of stock markets.

Under the deal, CanWest Global and its partner, New York investment bank Goldman Sachs, offered $2.3 billion for Alliance Atlantis in January. CanWest and Goldman bid $53 per share in cash for the broadcaster.

Shareholders of Alliance Atlantis approved the acquisition earlier this month.

The takeover still requires the approval of the Canadian Radio-television and Telecommunications Commission.

Alliance and CanWest have said they are confident they can complete their takeover deal despite objections raised by Movie Distribution Holding Trust.

The trust is scheduled to ask an Ontario court on May 18 that the deal should not be completed without its consent.

The court fight centres around Motion Picture Distribution Limited Partnership. Alliance Atlantis indirectly holds 51 per cent of the partnership, while the trust's parent, Movie Distribution Income Fund, owns the remainder.

The trustees of the fund are asking for veto power because they argue they have not been given enough information about how the deal for Alliance Atlantis will affect their business.

Alliance Atlantis owns 13 specialty television channels, and co-produces and distributes the CSI franchise. The company also indirectly holds a 51 per cent stake in Motion Picture Distribution.