Calgary, Alberta, March 24, 2022 (GLOBE NEWSWIRE) — Shaw Communications Inc. (Shaw) today comprehensively transfers Shaw’s licensed broadcast business to Rogers Communications Inc by the Canadian Radio-Television Communications Commission (CRTC). Announced reviews and approvals. (Rogers) marks an important milestone for a successful integration of the two companies.
Brad Shaw, Shaw’s Executive Chair and CEO, commented on today’s decision:
“We appreciate CRTC’s thoughtful investigation and continue to promise to work with governments and regulators to successfully complete the proposed transaction with Rogers.
Today’s announcement is an important milestone in our journey towards all regulators approving the merger of the two companies. Our team continues to work towards completing an ongoing in-depth regulatory review to provide shareholders with the value expected to be received at the time of closing, scheduled for the first half of 2022.
Shaw employees continue to focus on immediate priorities, balancing subscriber growth and profitability, investing in the network and delivering a better customer experience across the business.
Together with Rogers, we all give Canadians access to high-quality next-generation networks, intensifying competition, and improved connectivity to rural, remote, and indigenous communities throughout Western Canada after the merger. We look forward to bringing significant benefits to the company. “
This transaction is subject to other customary closing conditions, including approval from the Bureau of Competition and the Bureau of Innovation, Science and Economic Development of Canada. Shaw and Rogers continue to work collaboratively and constructively to ensure the required approval.
Notes on forward-looking statements:
This news release contains “forward-looking statements” in the sense of applicable securities law. This includes statements about: Expected timing of transaction termination. Expected growth of subscribers and products / services to subscribe to. Expected benefits of transactions.
All forward-looking information is subject to changes and uncertainties in nature, and actual results may differ materially from those expressed or implied by forward-looking information. Please note. Many risks, uncertainties, and other factors can cause actual results and events to differ materially from those expressed or implied in forward-looking information. It may also change your current goals, strategies and intent. Readers should refer to Shaw’s public report. For explanations of such assumptions and risks. Therefore, it is unreasonable to warn investors to be careful when considering statements that include information about future prospects and to rely on statements such as the creation of legal rights regarding future outcomes or plans. I warn you. We cannot guarantee that information about future prospects will be materialized. Also, be careful not to overly rely on information about this future outlook. The forward-looking information contained in this news release represents expectations as of the date of this news release and is subject to change after that date.
Information on future prospects is provided here for the purpose of providing information on the proposed transactions above and their expected impact. Please note that such information may not be suitable for other purposes. Completion of the proposed transaction above is subject to other risks and uncertainties, including but not limited to certain closing conditions, cancellation rights, and regulatory approvals. Therefore, we cannot guarantee that the proposed transaction will occur or will occur under the conditions envisioned in this news release. The proposed transaction may be modified, rebuilt, or terminated. In addition, if the transaction is not completed and Shaw and Rogers continue to be independent entities, Shaw’s dedication to the announcement of the transaction and the completion of the transaction may affect Shaw’s current business. There is a risk that there is. Relationships, including relationships with future and future employees, customers, distributors, suppliers and partners, can have a significant negative impact on Shaw’s current and future business, financial condition and outlook.
All forward-looking statements are made in accordance with the “Safe Harbor” provisions of applicable Canadian and US securities laws. Shaw undertakes no obligation to update or change any statement containing forward-looking information, its underlying factors or assumptions, unless necessary as a result of new information, future events, etc. We explicitly deny such obligations). Law. All forward-looking information contained in this news release is qualified by the notices contained herein.
Shaw is a leading Canadian connectivity company. The wired sector consists of consumer and business services. Consumers serve home customers with broadband internet, Shaw Go WiFi, video and digital phones. Business provides business customers with internet, data, WiFi, digital phone, and video services. The Wireless Division provides wireless voice and LTE data services.
Shaw is traded on the Toronto and New York Stock Exchanges and is included in the S & P / TSX 60 Index (symbols: TSX – SJR.B, NYSE – SJR, and TSXV – SJR.A). For more information, please visit: www.shaw.ca
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Shaw Communications Inc.
Chethan Lakshman, Vice President, Foreign Affairs
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CRTC Approves Transfer of Broadcasting Business to Canadian Business Journal Rogers
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