Rising costs weigh down Q4 profits at Shaw; 2016 "a pivot year"; X1 coming soon

CALGARY – Shaw Communications saw fourth quarter profits drop by 44.2% despite double digit revenue gains, the company reported Wednesday.For the three month period ended August 31, 2016, Shaw posted a net income of $154 million, well below the $276 million posted in the same period last year, which it attributed primarily to a $158 million non-recurring gain on the sale of wireless spectrum licenses recorded in the fourth quarter of 2015.Net income for fiscal 2016 was $1.2 billion, up 40.9% compared to $880 million for fiscal 2015, driven mainly by the gain on the sale of its Media division, partly...