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Shaw still unsure on wireless; sales climb 8%; claims largest cable base

26 Oct 2009

Shaw Communications’ revenues in the three months ended 31 August 2009 rose 8% year-on-year to CAD873 billion (USD823 million), whilst net profit shrank to CAD124 million versus the year-earlier net result of CAD132 million that was lifted by one-time gains. Shaw also announced that its CAD300 million purchase of Ontario-based cableco Mountain Cablevision has received regulatory approval. It added the claim that the acquisition of Mountain’s 41,000 cable customers, 29,000 internet subscribers and 30,000 digital phone lines pushes it in front of Rogers Communications as Canada’s largest cableco. In its most recent fiscal quarter Shaw reported that its basic cable subscribers increased by 6,374 to 2.29 million, while internet customers, including pending installations, rose by 27,376 to 1.68 million. Meanwhile Shaw’s CEO Jim Shaw reiterated that it had not yet finalised its plans for entering the mobile wireless market, despite spending over CAD189 million on wireless spectrum. ‘We don’t really have a total plan right now but I can tell you we’re really interested in expanding into that area on a really cautious basis,’ he told analysts.

Canada, Shaw Communications (owned by Rogers)

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