CALGARY – Shaw Communications lost more cable and internet subscribers than anticipated during its third quarter, and reported a $91 million loss, while adding a large number of wireless customers.
In a conference call with the financial community after the release of its Q3 results, Shaw executives pointed to the ongoing restructuring of its organizational operations for the disappointing quarter.
The $91 million loss was attributed to a $284 million charge related to its investment in Corus Entertainment. Corus took a large write-down in its Q3 announced yesterday. Shaw showed a $133 million profit in the same quarter a year…
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TORONTO – As widely expected, Corus Entertainment today slashed its dividend as part of a plan to reduce debt and re-invest in its core business as it struggles to compete with Facebook, Google, OTT providers, internet radio and global change in content consumption.
Corus is cutting its annual dividend by 79% to $0.24 per share for Class B shares (to take effect Sept. 1, 2018). It also announced a quarterly loss of $935.9 million tied to its devaluation of its broadcast licenses. The loss includes a $1.01-billion non-cash impairment charge related to broadcast licences and goodwill.
Television business revenue fell 5%…
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OUR FEDERAL GOVERNMENT promised a review of the Broadcasting and Telecommunication Acts in its 2017 budget and last week the CRTC took the first step down this path when it issued: Harnessing Change: The Future of Programming Distribution in Canada.
While it floated a number of interesting, innovative and controversial ideas, we’re all anxious to hear what Heritage Minister Mélanie Joly will have to say about it this weekend when she addresses the Banff International Media Fest. There, we hear she is likely to announce the appointment of a worthy and carefully chosen panel of experts to undertake a year-long project…
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Videotron, SaskTel ranked tops again
TORONTO – Canadians with smart home devices are willing to pay more for their internet but are quick to switch internet providers, according to new data from J.D. Power.
The 2018 Canada Internet Service Provider Customer Satisfaction Study measures overall satisfaction with internet service providers and is based on five factors (in order of importance): performance and reliability; cost of service; communication; billing; and customer service. The 2018 Canada Television Provider Customer Satisfaction Study is based on six factors (in order of importance): performance and reliability; cost of service; programming; communication; billing; and customer service. Continue Reading
Competition Bureau invokes Sugar Wireless as a model to follow
GATINEAU – “Generally, the Bureau does not favour price controls. However, the presence of market power in this industry; the natural experiment offered by Sugar Mobile’s attempted entry into the wireless services industry; and the fact that similar LCDO Plans have arisen without government intervention in some foreign jurisdictions informs the Bureau’s view that LCDO Plans can increase economic welfare and consumer choice in Canada’s wireless industry.”
So says the Competition Bureau of Canada’s submission to the CRTC about the low-cost data only wireless plans submitted to…
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TORONTO – As the Canadian wireless landscape continues to feel competitive heat from the likes of Shaw’s Freedom Mobile, Rogers CFO Tony Staffieri remains confident any impact is manageable.
“We’ve competed with Freedom, and the prior names of Freedom for upwards of 10 years now,” Staffieri said, speaking Wednesday at Scotiabank’s Telecom, Media and Technology Conference. “We compete not only on price, but also on network quality and points of distribution, among other factors. Getting the customer is one thing, but keep the customer is something else.”
Despite the Q4 2017 price war which saw Freedom disrupt…
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BANFF – The internet is terrifying enough to me as an adult dealing with its underbelly of malice, lies, trolls, and subterfuge.
For unknowing children it’s too often a madhouse of horrors running the gamut from inappropriate content, to lurking strangers, to personality theft, to terribly wounding comments, to outright predators. Some times these web injuries even lead to suicide.
Yet from the minute they’re born, young ones are now exposed to digital surroundings that will inevitably be their way of life and since the World Wide Web plays an increasing role in our children’s and grandchildren’s lives, how do…
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TORONTO – Given how Canadians now consume video, and from where, measuring the level of industry consolidation here based on share of linear TV viewing is wrong, Corus Entertainment CEO Doug Murphy told an investors conference in Toronto Wednesday morning.
Appearing at the Scotiabank Telecom, Media and Technology conference, Murphy would not comment on yesterday’s Globe and Mail report which said Shaw Communications and the Shaw family is looking to sell the company. “I’m not prepared to comment on articles, rumours, or speculation,” he said.
What he was prepared to talk about was the bright future he…
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TORONTO – SiriusXM Canada will once again offer subscribers every game of this year’s CFL season, including regular season and playoff games, starting Thursday, June 14.
Every matchup, right through the 106th Grey Cup presented by Shaw in Edmonton, and featuring the SiriusXM Kick-Off Show, will be available live to SiriusXM satellite and streaming subscribers on Canada Talks (ch. 167). French-language broadcasts of Montréal Alouettes and Ottawa RedBlackd games can be heard on Influence Franco (ch. 174).
In addition to play-by-play coverage of every game, subscribers also get access to Inside the CFL on Canada Talks (ch. 167), hosted by Mick…
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TORONTO – According to a report this evening in the Globe and Mail, Shaw Communications is trying to sell all of its interest in Corus Entertainment.
The report (subscription) says the company recently hired TD Securities to find a buyer for its 38% stake in the broadcaster, valued at $540 million. The story says Shaw needs the money to further build its Freedom Mobile wireless network.
The Globe story also says the company and the Shaw family, who owns control of both entities, are also trying to sell its controlling voting shares as well, which would mean…
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