*Shaw ups its share

The JR Shaw Family Group of Companies has increased its investment in Shaw Communications.

The recent purchases include 200,000 Class B shares for approximately $11.6 million, $5.2 million of the 8.54% Series B Capital Securities, US$1.2 million of the 8.5 % Series B Preferred Securities (‘COPrS’) and US$1.2 million of the 8.45% Series A Preferred Securities (‘COPrS’).

The JR Shaw Family Group of Companies now owns 4,347,052 Class A shares and 3,309,355 Class B shares of Shaw Communications, representing 75.96% of the outstanding Class A shares and 4.03% of the outstanding Class B shares of Shaw Communications.

*Peace Arch revenues jump in Q3

Vancouver’s Peace Arch Entertainment Group (formerly Vidatron Entertainment Group) recorded a blockbuster third quarter with $8.73 million in revenues, an increase of 600% compared to the same quarter last year.

Earnings for the quarter (ending May 31) were $398,000 (13 cents per share) compared with a loss of $261,000 (10 cents per share) for the third quarter of fiscal 1998. The increase in financial performance for the period is attributed to an increase in proprietary programming.

Nine-month tallies are less robust, but still strong. Revenues for the nine months increased 123% to $39 million from revenues. Net earnings for the nine months were $1.4 million (46 cents per share) compared with $428,000 (17 cents per share) in the first three quarters of fiscal 1998.

On July 29, meanwhile, Peace Arch listed on the American Stock Exchange and is selling 750,000 Class B shares for US$5 per share.

The proceeds of the US$3.75 million Peace Arch offering – underwritten by The Seidler Companies – will be used to expand the company’s production and distribution capacities, repay debt and provide working capital.

On Aug. 4, A Class shares closed on the Toronto Stock Exchange at $7.75 per share, while B Class shares closed at $8 per share.