OTTAWA – Shaw Communications now has 100% ownership of specialty channel TVtropolis after the CRTC approved its application in a decision Tuesday to acquire Rogers’ 33% interest in the Category A service for a reported $59 million.
The acquisition of Rogers’ remaining interest in TVtropolis is part of a number of transactions between Shaw and Rogers announced in January. At that time Rogers said it would acquire Shaw’s cable system in Hamilton, Ont. and secure an option to purchase Shaw’s Advanced Wireless Services (AWS) spectrum holdings in 2014. Rogers said it would also enter into negotiations with Shaw for the provision of certain services in Western Canada. The net cash investment in the entire deal for Rogers was expected to be approximately $700 million.
The Commission heard from intervening parties opposing the application. The intervenors suggested delaying the sale until the Department of Industry concluded its consultation on transfers, divisions and subordinate licensing of spectrum licences. As well, the intervenors submitted that the sale should be subject to review by the Competition Bureau as it is part of the larger deal between the two companies.
In response, the Commission said that “the issues raised by the interveners do not provide a basis to delay the Commission’s rendering of a decision,” adding that it reviews ownership transactions independently.
A new broadcasting license will be issued to Shaw to operate the specialty channel under the same terms and conditions as the current licence.
