TORONTO – While an Ontario Superior Court judge on Friday gave Shaw Communications the green light to move ahead with its plan for CanWest Global, other companies have come forward to say, “hey, we would have liked to get in on the bidding, too.”
However, companies which wanted to take a close look at the troubled broadcaster and newspaper publisher had to first sign a non-disclosure agreement which prevented them from even talking to Goldman Sachs, which is the key creditor as the 65% equity holder of CW Media Holdings, the division which owns and operates CanWest’s specialty channels.
Canwest…
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CALGARY – The Ontario Superior Court of Justice has approved Shaw’s takeover bid of Canwest, despite a last minute rival bid lead by investment fund Catalyst Capital, the Asper family and two former Rogers execs.
The Calgary-based cable company has entered into agreements with Canwest and certain 8% senior subordinated noteholders for a minimum commitment to buy $95 million worth of Class A voting shares in a restructured Canwest, which represents 20% equity and an 80% voting interest.
Shaw’s initial equity interest will exceed 20% depending on the number of Canwest creditors that elect cash rather than shares in restructured…
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OTTAWA – CRTC chair Konrad von Finckenstein said Friday the regulator had “made a mistake” in eliminating Canadian content spending requirements for over-the-air broadcasters back in 1999.
Speaking in conversation with broadcast veteran Trina McQueen during the CFTPA Prime Time in Ottawa conference, von Finckenstein added, “It doesn’t make sense.”
However, the chair noted that the system “can’t turn back.” While failing to confirm expenditures would be revived in upcoming regulation, it looks like the CRTC is heading that way.
McQueen noted that the CRTC should not want “to make the same mistake over again” (by not changing the rules).
Can’t the amount…
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TORONTO – Goldman Sachs has thrown its support behind a new proposal to restructuring Canwest Global Communications and bring it out of bankruptcy protection.
A group led by Toronto-based investment fund Catalyst Capital which includes the Asper family, former Rogers Broadcasting chief Rael P. Merson and John Tory, announced today that they have submitted to the Canwest Special Committee a restructuring proposal to facilitate the company’s emergence from the CCAA process.
The proposal requires no material amendments to the original court filed plan and would maximize the value of the Canwest estate while expediting its exit from the CCAA process as…
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OTTAWA – Comments filed on the CRTC’s reconsideration of speed matching strike a familiar refrain: Would-be competitors say Canadians will suffer if the CRTC doesn’t mandate speed matching and access to higher-speed local access facilities for them, while incumbent telcos tell the Commission that doing so will threaten future network investments.
Telcos were already required under CRTC regulations to provide speed matching (also referred to as service parity) to competitors over both legacy copper facilities as well as their faster fibre, or next-generation networks (NGNs). But the implementation of the rule was put on hold following appeals to the…
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CALGARY – Shaw Communications will be the first provider in Canada to trial Gigabit Internet, which it says is capable of speeds of up to 1000 Mbps.
More than 10 times faster than Shaw’s fastest current Internet package, the new service will be delivered over fibre-to-the-home (FTTH) to support emerging Internet applications that require faster download speeds.
"This is game-changing technology," said president Peter Bissonnette, in the announcement. "We are on the leading edge of change with this trial – bringing blazing speeds and new network capabilities that will give us a springboard for future possibilities. It’s really exciting to think…
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CALGARY – Shaw Communications announced this morning that it intends to purchase control of CanWest Global Communications.
The Calgary-based cable company has entered into agreements with Canwest and certain 8% senior subordinated noteholders to acquire a minimum 20% equity interest and 80% voting interest in the broadcaster, which includes effective control of a restructured Canwest. Shaw’s initial equity interest will exceed 20% depending on the number of Canwest creditors that elect cash rather than shares in restructured Canwest, says the press release.
Full financial terms were not disclosed.
"We are excited about the Investment and gaining effective control of one of the…
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CALGARY – Shaw is continuing to tweak its cable channel lineup in advance of the Olympics.
Effective immediately, Shaw Cable has moved TSN down from channel 30 to 23, making the network available to customers as part of their basic programming package.
The channel change is effective in Greater Vancouver, Whistler, Squamish and Bowen Island.
www.shaw.ca
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MONTREAL – Perhaps due in part to some public pressure, Cogeco Cable has signed on to offer the video-on-demand coverage of the Olympics offered by the Games’ Broadcast Media Consortium.
Cogeco joins Rogers Cable, Shaw Cable, EastLink and its subsidiary Delta Cable and Source Cable in offering the 700 hours of VOD content free of charge beginning February 13 with the Opening Ceremony.
All coverage will be available within 24 hours after its original airing to Cogeco’s digital cable customers in Québec and Ontario that have access to VOD on channel 600.
A Cogeco spokesperson wrote in an email to Cartt.ca that…
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CALGARY – Shaw is making it easier for its Francophone customers to watch the Olympics.
Beginning this Friday, Shaw Cable customers in the Vancouver area will be able to watch French coverage of the Olympics on the V network on channel 40, which will temporarily take the place normally held by Bravo.
Bravo will move to digital channel 56 on February 12, and then back to its usual spot on March 1, 2010. This change is effective for the Vancouver area, including Whistler and Squamish.
The V network will provide Francophone viewers with CTV’s coverage of the Vancouver 2010 Olympic Winter Games. Shaw is…
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