- Shaw Communications (SJR.B) has commented on yesterday’s ruling by the CRTC regarding the transfer of Shaw’s broadcasting services to Rogers Communications
- The CRTC’s approval is an important step forward in the pending merger transaction
- The combination of Rogers and Shaw will provide, among other benefits, access to next-generation networks and greater connectivity to rural, remote and Indigenous communities
- The transaction remains subject to approvals from the Competition Bureau and Innovation, Science and Economic Development Canada
- Shaw Communications is a Canadian telecommunications company
- Shaw Communications Inc. Class B Non-voting Shares (SJR.B) opened trading at $38.47
The CRTC has approved the transfer of Shaw Communications’ (SJR.B) licenced broadcasting services to Rogers Communications (RCI.B).
This includes 16 cable services based in Western Canada, a national satellite television service and other broadcast and television services.
The Canadian Radio-television and Telecommunications Commission’s (CRTC) approval marks an important step forward in the pending merger of the two companies.
Brad Shaw, Executive Chair & CEO of Shaw commented on the ruling:
“We appreciate the CRTC’s thoughtful inquiry and remain committed to working with government and regulators to achieve the successful completion of our proposed transaction with Rogers.
Today’s announcement is a critical milestone in the journey we are taking towards all regulators approving the combination of our two companies. Our team is continuing to work toward completing the thorough regulatory reviews that remain underway to deliver our shareholders the value they expect to receive upon closing, expected to be in the first half of 2022.
Shaw’s employees continue to focus on our near-term priorities, balancing subscriber growth and profitability while investing in our networks and delivering better customer experiences across our businesses.
Together, with Rogers, we all look forward to bringing to Canadians the important benefits of the combined company – including access to high-quality, next-generation networks, increased competition, and greater connectivity to rural, remote and Indigenous communities throughout Western Canada.”
The transaction remains subject to approvals from the Competition Bureau and Innovation, Science and Economic Development Canada.
Shaw Communications is a Canadian telecommunications company. The Wireline division consists of consumer and business services. The wireless division provides wireless voice and LTE data services.
Shaw Communications Inc. Class B Non-voting Shares (SJR.B) opened trading at $38.47.
