trending Market Intelligence /marketintelligence/en/news-insights/trending/Cu-pbh4GHr72iIKIE_tUbA2 content esgSubNav
Log in to other products

Login to Market Intelligence Platform


Looking for more?

Contact Us
In This List

Corus completes Shaw Media buy


Episode 1: Origins of 451 Research - Part 1


Episode 3: Transformation of Customer Experience in 2020


Episode 2: Origins of 451 Research - Part 2


Culture of success: 451 Research survey highlights the keys to strong data and analytics initiatives

Corus completes Shaw Media buy

Canada's Coruscompleted its C$2.65 billionpurchase of Shaw Media Inc. from ShawCommunication.

Shaw Media's assets consist of 19 specialty channels, includingFood Network Canada, HGTV Canada, Slice, Lifetime Canada, HISTORY, Showcase, NationalGeographic Canada and BBC Canada. The deal also includes Global Television's conventionalstations in Vancouver, Okanagan, Edmonton, Calgary, Lethbridge, Saskatoon, Regina,Winnipeg, Toronto, Montreal, Halifax and Saint John.

In connection with the closing of the acquisition, Corus hascompleted the financing of C$2.6 billion syndicated senior secured credit facilities,consisting of a C$2.3 billion term loan and an undrawn C$300 million revolving creditfacility.

The acquisition and refinancing of existing Corus debt was fundedby a combination of net proceeds of about C$2.3 billion drawn under the new creditfacilities; the net proceeds of an offering of 29,210,000 subscription receipts,inclusive of 3,810,000 subscription receipts issued pursuant to the exercise infull of the underwriters' overallotment option, which raised gross proceeds of C$262.9million; and the net proceeds of a concurrent private placement of 3,560,000 subscriptionreceipts to certain members of the Shaw family that raised total gross proceedsof C$32.0 million.