UPDATED: Commission okays Corus takeover of Shaw Media

Commissioner Shoan wanted a hearingGATINEAU – After the close of trading Wednesday, the CRTC announced it has approved the $2.65 billion purchase of Shaw Media by Corus Entertainment.In legal/regulatory speak, the Commission approved “an application by Shaw Communications on behalf of Shaw Media and its licensed subsidiaries, to effect a corporate reorganization resulting in the transfer of Shaw Communication Inc.’s shares in Shaw Media Inc. to Corus Entertainment Inc.”Essentially, the Commission continued to treat Corus and Shaw as it always has since Corus was created in 1999 as a place to house media assets controlled by the Shaw family. Since...