Corus Entertainment is acquiring media giant Shaw Media in an iconic $2.65 billion deal.
“Through this transaction we are able to crystalize an attractive value for Shaw Media and realize substantial value creation for Shaw shareholders since acquiring CanWest in 2010,” said Shaw director Paul Pew, chair of a special board committee, to The Canadian Press.
Shaw Communications chief executive Brad Shaw added that “we are grateful to our colleagues at Shaw Media for their contributions to Shaw’s success over the past five years.”
The combined company would oversee 45 specialty television channels, including such brands as Food, History, Showcase, W Network and YTV, along with 15 local television stations, 39 radio stations and a host of digital properties including Globalnews.ca (Global News).
