CALGARY and TORONTO – JR Shaw and members of his family and corporations and trusts which they collectively own or control have completed an internal reorganization of their holdings in Shaw Communications and Corus Entertainment as part of ongoing estate planning for JR Shaw and his family.
The Shaw Family Group beneficially owned, and continues to own, 17,782,600 Class A Voting Participating Shares and 36,416,426 Class B Non-Voting Participating Shares of Shaw, and 2,906,496 Class A Voting Participating Shares and 5,651,417 Class B Non-Voting Participating Shares of Corus. Accordingly, the reorganization does not affect either company, reads the news release.
The reorganization involves consolidating indirect beneficial ownership of the Class A Voting Participating Shares of the company in the Shaw Family Living Trust (SFLT), a trust established as part of the reorg for the benefit of descendants of JR and Carol Shaw. The sole trustee of SFLT is a private Alberta corporation owned and controlled by JR Shaw and, accordingly, JR Shaw retains control of the company.
The CRTC has approved the reorganization, added the release.
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