Corus Entertainment Acquires Shaw Media for $2.6 Billion

by Istvan Fekete on January 14, 2016

shaw-windShaw Communications has announced that is has reached a sales agreement with Corus Entertainment to sell Shaw Media for $2.65 billion in cash and stock. Shaw will use the money to fund its wireless ambitions.

“This transaction represents a significant milestone for Shaw, firmly positioning the company as a leading pure-play connectivity provider with an attractive growth profile while allowing Shaw to participate in the significant upside potential resulting from the combination of Shaw Media and Corus,” said Chief Executive Officer, Brad Shaw.

“With the previously announced acquisition of WIND and sale of Shaw Media, Shaw will be focused on delivering consumer and small business broadband communications supported by its best-in-class wireline, WiFi and wireless infrastructure. In combination, these transactions will also enhance Shaw’s growth profile, with approximately 25% of total revenue derived from growth services.”

The deal leaves Shaw as a pure-play telecommunications company with high ambitions: to become a powerful player in the Canadian mobile market. Shaw has finally decided to kick-start its wireless dream by acquiring Wind Mobile, the country’s fourth-biggest wireless player.

The transaction will grant Corus a 35% share of English television viewership in Canada and allow it to focus on specialty programming for children and women. It includes Nickelodeon (Canada), Cartoon Network (Canada), and Disney Channel Canada.

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