LONDON — Canadian media company Corus Entertainment is set to acquire Shaw Communications’ TV unit Shaw Media for C$2.65 billion ($1.86 billion).
The deal will create a TV operation comprising 45 specialty television channels, 39 radio stations, digital assets, the content studio Nelvana, and 15 conventional television stations. Shaw Media’s assets include the specialty channels Food Network Canada, HGTV Canada, DIY Network Canada, Slice, Lifetime, History Canada, H2, Showcase, National Geographic Canada, Nat Geo Wild Canada, Action, MovieTime, IFC Canada, Global News: BC1, BBC Canada, DejaView, Crime + Investigation, DTOUR and FYI. It also includes Global Television’s national conventional service with stations in Vancouver, Okanagan, Edmonton, Calgary, Lethbridge, Saskatoon, Regina, Winnipeg, Toronto, Montreal, Halifax and Saint John.
“This is a transformational acquisition that redefines Corus and Canada’s media landscape,” said Doug Murphy, president and CEO of Corus Entertainment. “This game-changing transaction brings together a powerful portfolio of synergistic media assets that will solidify Corus’ position as the market leader in the highly valued Women, Kids and Family segments. It will also advance our strategic priorities through investment in content creation for our own platforms, and for global markets.”
“We believe these two companies will form a winning combination. Their complementary mix of assets and strong management teams fit extremely well together,” said J.R. Shaw, executive chair, Shaw Communications. “This transaction represents an exciting new chapter and allows us, as a family, to participate in what we see as a very successful future for Corus, one that will support a vibrant Canadian broadcast system.”
Corus and Shaw Media combined generated C$1.9 billion ($1.34 billion) in revenue last year.