CRTC approves Shaw’s Atlantic Cda. cable buys

The crtc has approved Shaw Communications’ purchases in Atlantic Canada, consisting of a 75% interest in Access Communications (which also owns a 45% interest in Halifax Cablevision), 100% of Access Communications Bedford Sackville and 100% of Fundy Communications.

The total purchase price is $627 million. The consideration for the acquisition will consist of the issuance by Shaw of class c shares valued at $232.5 million, the assumption of long-term debt, other liabilities and cash.

The Access companies serve approximately 73,000 subscribers in the Dartmouth, Bedford/Sackville areas in Nova Scotia, while Halifax Cablevision serves approximately 70,000 subscribers in Halifax and other communities in Nova Scotia. Fundy serves approximately 192,000 subscribers in New Brunswick.

Shaw’s acquisition of these companies should create opportunities to lower signal distribution, marketing and telecommunications costs, and to create a menu of programming and Internet-based services that would be available throughout both provinces.

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NFB75Anniversary - (Left to right) Tricia Baldwin (Tafelmusik, managing director), Melissa Than (NFB publicist), Tenny Nigoghossian (Luminato, VP of Advancement), Anne-Marie Applin (former NFB board member), and Luisa Frate (NFB Director General - CFO, COO, CTO)