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Canada: Corus to buy Shaw media in $2.65B merger

By  |  January 13, 2016

Two of Canada’s biggest media companies are about to become one. Corus Entertainment has announced it is buying Shaw Media, including the Global Television Network, from cable and Internet giant Shaw Communications for $2.65-billion in cash and stock.

If approved by shareholders and regulators, the deal will vault Toronto-based Corus into a leading market position, with the scale it says to compete both domestically and against foreign players like Netflix.

The combined company would oversee 45 specialty television channels, including such brands as Food, History, Showcase, W Network and YTV, along with 15 local television stations, 39 radio stations and a host of digital properties including Globalnews.ca.

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