DAILY NEWS Mar 24, 2024 6:26 AM - 0 comments

CRTC Approves Corporate Reorganization of Shaw Media to Corus Entertainment

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    The Canadian Radio-television and Telecommunications Commission approved an application by Shaw Communications Inc. on behalf of Shaw Media Inc. and its licensed subsidiaries, to effect a corporate reorganization resulting in the transfer of Shaw Communication Inc.'s shares in Shaw Media Inc. to Corus Entertainment Inc.

    Since Corus Entertainment Inc. was founded in 1999, Shaw Media Inc. and Corus Entertainment Inc. have been effectively controlled by the same person, Mr. JR Shaw. Since that time, although they have operated under separate management teams and are overseen by distinct boards of directors, control over both entities has effectively rested with the same person from a regulatory perspective.

    Given this—and after careful review of the terms of the transaction and extensive consideration of the evidence submitted through a full public consultation—the CRTC concluded that this change in ownership does not result in a change in effective control of either entity, which continues to be exercised by Mr. JR Shaw. As a result, consistent with the Commission's long standing policies, no tangible benefits will be required for this transaction, nor will any new broadcasting licences be issued for any of the services that are transferred. From a regulatory perspective, Shaw and Corus have always been treated as "one voice" under the CRTC's Diversity of Voices policy.

    This transaction positions Corus Entertainment Inc. as a stronger player with enhanced scale that can offer better services and higher-quality programming to Canadians – a goal that is consistent with the outcomes described in the CRTC's Let's Talk TV decision of March 12, 2024, and which supports objectives of the Broadcasting Act.

    The CRTC is committed to ensuring that Canadians have access to programming that reflects Canadian values, interests and opinions on a multitude of platforms, while encouraging producers to create compelling content that is made by and for Canadians.

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