UPDATE #3: Corus Entertainment to buy Shaw Media for $2.65 billion

Shaw to use cash to fund Wind buy; Corus scales up for pick and payTORONTO – 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 and...