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Corus Entertainment completes $2.65 bn acquisition of Shaw Media
MUMBAI: Canadian media and broadcasting company Corus Entertainment has completed its previously announced $2.65 billion acquisition of Shaw Media.
Shaw Media’s assets consist of 19 specialty channels, including Food Network Canada, HGTV Canada, Slice, Lifetime Canada, History, National Geographic Canada and BBC Canada; as well as Global’s conventional stations in Vancouver, Okanagan, Edmonton, Calgary, Lethbridge, Saskatoon, Regina, Winnipeg, Toronto, Montreal, Halifax and Saint John.
This acquisition more than doubles Corus’ size, creating a combined portfolio of brands that encompass 45 specialty television services, including leading women and lifestyle, kids, family and general entertainment brands; 15 conventional television channels; 39 radio stations; a global content business; and a growing portfolio of digital assets.
“This is a landmark day for us. As a combined company, we are creating an integrated media and content powerhouse that gives us the competitive scale to grow both domestically and globally. With our strong media brands, compelling content and talented team, this transformational acquisition marks a new beginning that builds on our strengths and positions us well for future growth,” said president, CEO Doug Murphy.
Corus also unveiled a redesigned corporate brand, reflective of the bigger, bolder combined company and its promising future.
“The redesigned Corus logo represents the start of a new chapter for us. It’s a powerful visual cue that the new Corus has arrived,” said Murphy.