TORONTO – Corus Entertainment is once again disputing “distorted information, obfuscation and misstatements” allegedly made by company shareholder The Catalyst Capital Group over Corus’ proposed acquisition of Shaw Media.
In a news release late Tuesday, Corus strongly rejected proposals circulated by Catalyst, including a proposal to terminate the outstanding Corus subscription receipts offering in lieu of a hypothetical rights offering backstopped by Catalyst. Corus said that Catalyst’s proposals are not in the interests of Corus shareholders and that “the hypothetical rights offering proposed by them is both unworkable and self-interested”.
“Corus’ widely publicized subscription receipts offering was broadly and fully marketed…
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CALGARY – Shaw Communications has officially closed its acquisition of Mid-Bowline Group Corp. and its wholly-owned subsidiary Wind Mobile.
Wind serves approximately 940,000 wireless subscribers across Ontario, British Columbia and Alberta with 50 MHz of spectrum in each of these regions. Shaw said that it will continue to invest in the wireless network and service offering, including the upgrade of its network to 4G LTE.
"We know Canadians want options when it comes to their wireless provider and, in time, customers can expect to see integrated offerings that provide them with the best value for their dollar in quality of coverage…
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OTTAWA – Shaw Direct has received CRTC approval to modify its ‘skinny basic’ lineup of TV channels, specifically the local television stations that must be included.
The Commission said Monday that it accepts, with modifications, an application by Star Choice Television Network Incorporated for an exception to section 45.1 of the Broadcasting Distribution Regulations as it relates to its national DTH BDU Shaw Direct.
Star Choice submitted that the CRTC’s proposed basic service was too limiting for Shaw Direct and could not be achieved with its current system, noting that its infrastructure was never designed to deliver the multitude of…
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Rejects newspaper report on investor Catalyst Group concerns
TORONTO – Late Tuesday, Corus Entertainment slammed a newspaper report which quoted one of the company’s shareholders saying it had serious concerns over disclosure of information to minority shareholders currently deciding whether or not to support the $2.65 billion purchase of Shaw Media.
Corus issued a press release saying the National Post story featured “a number of misleading claims by The Catalyst Capital Group (“Catalyst”) regarding Corus’ proposed acquisition of Shaw Media Inc. (“Shaw Media”).”
The release then re-stated the company’s belief that the acquisition is “a game-changing opportunity to…
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GATINEAU – Many of the 40 companies and individuals who filed interventions in response to the CRTC’s call for comments on the proposed $2.65 billion purchase of Shaw Media Inc. by Corus Entertainment say at the very least the CRTC should hold a public hearing on it – while some said that the sheer size of the deal and the increased concentration of media under one roof means the Commission must apply its tangible benefits policy, too.
The Commission’s tangible benefits policy usually calls for 10% of the value of any TV…
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TORONTO – An independent proxy advisory research firm is recommending that Corus Entertainment shareholders vote in favour of the company's proposed $2.65 billion acquisition of Shaw Media Inc.
Institutional Shareholder Services (ISS) offered the recommendation in a report released Monday. The special meeting of Corus shareholders will take place March 9 at Corus Quay, and holders of Class A participating shares and Class B non-voting participating shares as of the record date of February 5, 2016 are entitled to vote.
"… the strategic rationale behind the transaction appears appealing as the combined company is expected to command 34.5% of Canada's English language television…
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CALGARY – Shaw Communications said that it will close its acquisition of Mid-Bowline Group Corp. and its wholly-owned subsidiary Wind Mobile on March 1st.
Shaw said that conditions to the transaction relating to the Competition Bureau and the Ministry of Innovation, Science & Economic Development (formerly Industry Canada) and approval by the Ontario Superior Court of Justice have been satisfied.
The $1.6 billion deal, announced last December, will see Shaw become the seventh Canadian communications carrier offering a quad-play of TV, Internet, home phone and wireless (in its larger Alberta and B.C. centres, that is).
www.shaw.ca
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CALGARY – Two weeks ahead of the CRTC’s March 1st deadline for all Canadian carriers to offer a stripped down “skinny” starter TV package to customers, Shaw Cable this week soft-launched Limited TV, its $25/month group of local broadcast stations and mandated must-carry channels.
As readers can see from the image (and this link), the package (this is what a customer from Edmonton would see on the Shaw web site) includes all Canadian broadcast stations (in HD and SD), as well as must carries APTN, AMI, Voiceprint, TVA and the Weather Network.
Expect other carriers to follow…
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GATINEAU – A new fund or reallocated money dedicated to supporting local news, would do little to provide a long-term solution to the financial situation facing local TV, Shaw Communications and Telus told the CRTC on Tuesday.
Telus noted in its opening remarks that any funding for local conventional stations to subsidize their news productions shouldn’t come at the expense of community TV and the diversity it provides to the system. As well, “subsidizing the commercial business models of traditional television stations will not incent the innovation required of these stations to provide sustainable programming opportunities in the long run,”…
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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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