Shaw Communications Sells Its Stake In Corus Entertainment

Shaw Sells

SHAW COMMUNICATIONS INC. is selling its stake in CORUS ENTERTAINMENT INC. for a gross amount of C$548,286,604.

SHAW is selling its 80,630,383 Class B non-voting participating shares -- representing about 38% of CORUS -- at $6.80/share to a syndicate of underwriters led by TD SECURITIES INC. and will not own any shares in CORUS after closing, which is expected by the end of MAY. CORUS was at its 1999 inception a spin-off of SHAW, and CORUS took over operation of SHAW's media division, including the GLOBAL television network, in 2016.

« see more Net News