CRTC Approves Corus’s Shaw Media Deal

TORONTO: The Canadian Radio-television and Telecommunications Commission (CRTC) has cleared Corus Entertainment’s acquisition of Shaw Media.

With the regulatory hurdles now cleared, Corus expects the transaction will close April 1. Corus announced its intention to acquire Shaw Media from Shaw Communications for C$2.65 billion in January. The combined Corus/Shaw Media portfolio will consist of 45 specialty services, 15 conventional channels, 39 radio stations, a global content business and a slate of digital assets.

“We are very pleased with the CRTC’s decision to approve the acquisition of Shaw Media by Corus Entertainment,” said Doug Murphy, president and CEO of Corus Entertainment. “This marks the final milestone in the approval process for this transformational acquisition. We will now begin the important integration work to bring together our winning combination of brands, assets and talent that will become the new Corus.”