TORONTO – Corus Entertainment’s shareholders have voted overwhelmingly in favour of the proposed $2.65 billion acquisition of Shaw Media Inc.
A total of 3,259,268 Class A shares and 61,769,406 Class B shares, representing 95.14% of the issued and outstanding Class A Shares and 73.10% of the issued and outstanding Class B Shares, respectively, were represented in person or by proxy at a special meeting of shareholders in Toronto on Wednesday
All of the Class A shares voted in favour of the deal, as did 78.52% of the Class B shares. Class B votes against the deal totaled 21.48%.
"Corus' shareholders have spoken, voting in favour of this transformational acquisition," said Corus president and CEO Doug Murphy, in a statement. "This endorsement is a critical step forward in bringing these two great companies together to create a leading integrated media and content company."
Subject to CRTC approval (and some objections have been filed, as we have reported), the transaction is anticipated to close in the third quarter of fiscal 2016.
