Shaw Communications Inc. announced today that the Competition Bureau has cleared the Calgary-based communication firm’s acquisition of 100% of Canwest Global Communications’ specialty and terrestrial TV operations.
The Competition Bureau concluded that the transaction will not likely give rise to a substantial lessening or prevention of competition under the Competition Act because of a number of factors, including effective remaining competition, the effect of the regulatory environment, the absence of relevant concerns expressed by market participants and numerous alternatives available to advertisers.
“The Bureau has conducted a very thorough review and we appreciate their efforts to expeditiously complete their examination,” said Jim Shaw, CEO and Vice Chair of Shaw. “We look forward to moving ahead with this transaction. We are certain it will strengthen the Canadian broadcasting system to the benefit of all Canadians.”
Shaw will be able to close the transaction after receiving approval from the CRTC. The regulator has announced a public hearing during the week of Sept. 20, following which it will either approve or deny the transaction.
