Shomi's startup costs weigh down Q1 profits at Shaw

CALGARY – A drop in video subscribers helped to flatten first quarter profits at Shaw communications by 7.3%, the company reported Wednesday.Consolidated revenue for the first quarter of fiscal 2015 ended November 30, 2014 was $1.39 billion, up 2% from $1.36 billion in the same period last year, while total operating income before amortization dipped to $606 million from $608 million last year.Net income fell 7.3% to $227 million from $245 million for the same quarter last year, though the current period included higher amortization and an equity loss related to new SVoD service shomi, a joint venture with Rogers Communications, which...