Toronto, March 24, 2022 (GLOBE NEWSWIRE) — Rogers Communications Inc. (“Rogers”) welcomes the approval of the Canadian Radio-Television Communications Commission (“CRTC”) for the transfer of broadcast distribution business licenses owned by Shaw Communications Inc. (“Show”) To Rogers.
“This approval is an important milestone and we are one step closer to completing a transformative deal with Shaw,” said Tony Staffieri, President and CEO of Rogers. “Together, Rogers and Shaw are accelerating investment in 5G and cable networks across Canada, offering consumers and businesses more choice and competition, rural and remote faster than either company can do alone. Connect the local community. “
The Rogers and Shaw transaction is expected to close in the second quarter of 2022. Shaw’s shareholders, Queen’s Bench Court, Alberta, now approved by the CRTC and are subject to review by the Competition Bureau and the Minister. Innovation, science, industry (ISED).
Both Rogers and Shaw teams will work constructively with the Competition Bureau and ISED to ensure that the integrated company has the information it needs to assess the significant benefits it brings to Canadians and the Canadian economy. increase.
Building a more connected Canada
The combination of Rogers and Shaw gives Canada the assets and capabilities it needs to create jobs, drive innovation and make significant investments in the digital infrastructure needed to lead the global digital economy. A company is born. The advantages are:
- Over the next five years, we will invest $ 2.5 billion to build a 5G network across western Canada.
- Establish a new $ 1 billion Rogers Rural and Indigenous Connectivity Fund aimed at connecting rural, remote, and indigenous communities in western Canada.
- An additional $ 3 billion to support further network, service, and technology investments.
- Through the industry-leading Ignite platform, we provide our customers with the next generation of features, capabilities, and services in western Canada.When
- It creates up to 3,000 new jobs in western Canada.
Note on forward-looking statements
This news release contains “forward-looking statements” in the sense of applicable securities law. This includes statements regarding the potential timing and expected receipt of required regulatory approvals and the expected timing of transaction completion.
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 see Rogers and the show. A publicly submitted report to explain 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.
All forward-looking statements are made in accordance with the “Safe Harbor” provisions of applicable Canadian and US securities laws. Rogers and Shaw undertake no obligation to update or change any statement containing information about future prospects, their underlying factors or assumptions as a result of new information, future events, etc. (Rogers and Shaw do so). Explicitly deny any obligation). Unless required by law. All forward-looking information contained in this news release is qualified by the notices contained herein.
Rogers is Canada’s leading technology and media company, providing world-class communications services and entertainment to consumers and businesses on an award-winning network. Our founder, Ted Rogers, purchased his first radio station, CHFI, in the 1960s. Today, we are dedicated to providing industry-leading wireless, cable, sports and media to millions of customers across Canada.
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Rogers welcomes CRTC’s approval for the transfer of Shaw broadcast licenses. TheCanadianBusiness Journal
Source link Rogers welcomes CRTC’s approval for the transfer of Shaw broadcast licenses. TheCanadianBusiness Journal