Cable / Telecom News

Canada’s largest pension fund backs Corus-Shaw Media deal


TORONTO – Canada Pension Plan Investment Board (CPPIB) will support Corus Entertainment’s bid to buy Shaw Media for $2.65 billion.According to a report in the Wall Street Journal (subscription required), CPPIB’s support represents a potential blow to efforts by Catalyst Capital Group Inc. to block the deal, noting the pension fund’s influential voice in Canadian markets given its size and the emphasis it places on good corporate governance. CPPIB didn’t provide a reason for its decision and a spokesperson declined to elaborate, continues the report.CPPIB owned 610,000 Corus Class B shares as of March 31, 2015, according to the latest data...