Shaw to complete Canwest asset takeover

25 Jun 2010

Canadian triple-play cableco Shaw Communications has received permission from the courts to buy all of the TV broadcasting assets of Canwest Global Communications at a total value of CAD2 billion (USD1.92 billion). In early May it was reported that Shaw had agreed to pay CAD700 million for a 65% stake in Canada’s second-largest private television network held by New York investment bank Goldman Sachs, clearing the way for the purchase of the entire television division of a newly restructured Canwest for a total of around CAD2 billion including the assumption of more than CAD800 million of debt. In addition to its cable TV network, Shaw also operates a direct-to-home (DTH) satellite TV service, Shaw Direct (the former Star Choice), which allows it to serve customers outside its cable footprint and compete with larger satellite rival Bell TV.

Canada, Shaw Communications