TORONTO — Although the proposed sale of Shaw Media to Corus Entertainment was top of mind for financial analysts Thursday afternoon, Wind Mobile and FreeRange TV was a big deal, too
Calling the Shaw Media sale to Corus “a significant milestone for both companies,” Jay Mehr, EVP and COO of Shaw Communications, said during the Q1 conference call with financial analysts that the transaction along with Shaw’s acquisition of Wind will position Shaw “as a leading pure-play connectivity company with a strong growth profile.” The Wind wireless business complements Shaw’s existing Business Network Services and Business Infrastructure Services segments, Mehr…
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CALGARY – Despite an increase in revenue, Shaw Communications saw first quarter profits drop by 4%.
For the three month period ended November 30, 2015, Shaw posted net income of $218 million, down from $227 in the prior year, primarily from higher income taxes and amortization, partially offset by an improvement in operating income before restructuring costs and amortization.
Revenue for the quarter of $1.42 billion was up 2.2% from $1.39 billion year-over-over, reflecting growth in its Consumer, Business Network Services and Business Infrastructure Services divisions. The improvement is primarily attributed to customer growth in both the Business Network Services and Business…
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MONTREAL – Cogeco and subsidiary Cogeco Cable held their annual general meetings in Montreal on Wednesday, preceded by a conference call with analysts and a meeting with journalists. Here’s what we heard.
Wireless
“It’s been 10 years that you’ve asked me that question,” Cogeco CEO Louis Audet told journalists, and he had it again in the investor conference call. But the logic hasn’t changed, even as Shaw’s acquisition of Wind Mobile makes Cogeco the largest Canadian cable or telecom provider without a wireless service.
“Our perception since the beginning is that if we enter this industry it has…
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Terms of Trade even more essential
TORONTO – The Canadian Media Production Association (CMPA) is today calling for a formal review of the need for enhanced Terms of Trade between broadcasters and producers in light of Corus Entertainment’s proposed acquisition of Shaw Media.
“This acquisition has troubling implications for the independent production sector,” said Reynolds Mastin, president and CEO of the CMPA, in the organization’s press release. “If approved, it will lead to even greater consolidation of control in an already exceptionally consolidated broadcasting industry. It will mean that two players – the merged Corus/Shaw and Bell Media – would control…
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TORONTO – Gains in its television division helped to lift first quarter revenues at Corus Entertainment by 1%, the company announced Wednesday.
For the first quarter ended November 30, 2015, net income attributable to shareholders was $41.3 million, down from $51.9 million year-over-year, and included business acquisition, integration and restructuring costs of $2.4 million, though excludes amortization of Pay Television assets reclassified as assets held for disposal of $1.4 million. Adjusting for the impact of these items results in an adjusted net income attributable to shareholders of $42.5 million in the quarter.
Consolidated revenues for the period were $228.3 million, up 1% over $227.1…
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Shaw to use cash to fund Wind buy; Corus scales up for pick and pay
TORONTO – While many often assumed the opposite would happen, Corus Entertainment and Shaw Communications this morning announced the former would buy the latter’s media properties for $2.65 billion.
The two companies have been planning the transaction for a while. “For a few months now, we’ve been hard at it,” Corus CEO Doug Murphy told Cartt.ca Wednesday in an interview. “Many felt it might go the other way, but the industrial logic, if you would, of bringing these two businesses together make a lot of sense…
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CALGARY – Shaw Communications has added top-ranked Canadian golfer David Hearn to its roster of brand ambassadors, and agreed to multi-year contract extensions with fellow Canadians and PGA Tour stars Graham DeLaet and Adam Hadwin.
With this sponsorship, Hearn (pictured), DeLaet, and Hadwin will wear the Shaw logo on their golf apparel on this year’s PGA Tour, beginning with the Sony Open in Hawaii from January 11-17, 2016.
Shaw's renewed commitments to DeLaet and Hadwin also include significant donations to the players' charitable causes in Saskatchewan and British Columbia, respectively.
"Shaw's golf sponsorship portfolio has provided us with a powerful branding platform…
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LAS VEGAS – “Cable companies find it hard to accept that people don’t just want to watch TV in the living room anymore,” said Jay Mehr, EVP and COO of Shaw Communications as it announced the launch of its FreeRange app Wednesday at the Consumer Electronics Show.
The app makes content instantly available to subscribers no matter where they are and Mehr (pictured) told a gathering of industry partners and press that the cable company had partnered with Comcast and Cisco to leverage Comcast's X1 platform to provide a truly disruptive mobile experience by providing live…
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OTTAWA – The overwhelming majority of community TV channels do not meet the minimum criteria for operating a community TV channel under current CRTC policy, says the Canadian Association of Community Television Users and Stations (CACTUS).
As the CRTC prepares to review the policy framework for local and community television programming later this month, the organization said Thursday that it has filed complaints of non-compliance with the Commission’s community TV policy against 47 cable community channels for not airing at least 60% local content and at least 50% access content.
CACTUS’ allegation includes research by CACTUS member and Newwest.tv executive director…
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TORONTO – A new fourth player in Canada’s wireless industry combined with increased wireline competition are two factors poised to significantly impact the Canadian telecom industry in 2016, says Canaccord Genuity.
An industry overview released Wednesday by analyst Aravinda Galappatthige says that company is taking “a more cautious stance” as it considers this year’s outlook for the telecom stocks, particularly when it comes to the big three incumbents BCE, Telus and Rogers.
Galappatthige predicts that wireless competition will heat up as a “resurgent Rogers Wireless” continues to aggressively add wireless net additions, and as regional player Videotron Wireless advances towards its…
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