Shaw To Focus On West By Shedding Moffat Subs
Shaw Communications Inc., Canada's second-largest cablecaster, is gearing up to sell systems in Nova Scotia and northwestern Ontario that are worth as much as CAN$500 million ($328 million), Shaw president Peter Bissonnette said Thursday.
In December, Calgary, Alberta-based
Shaw acquired Moffat Communications and its 320,000 subscribers for CAN$1.2 billion ($789 million). Bissonnette, speaking at a conference in Vail, Colo., said Shaw might sell Moffat's 159,000 subscribers in eastern Canada while retaining Moffat's cable systems in Alberta and Manitoba, where Shaw's systems are concentrated.
Shaw CEO Jim Shaw signaled last month that the cablecaster might sell its Atlantic Canada cable systems and consolidate in western Canada.
The cablecaster has racked up about CAN$2 billion ($1.31 billion) in debt to purchase Moffat and other properties, leading to a recent downgrade from bond rating service Standard and Poor's.
Bloomberg News contributed to this report.
In December, Calgary, Alberta-based
Shaw CEO Jim Shaw signaled last month that the cablecaster might sell its Atlantic Canada cable systems and consolidate in western Canada.
The cablecaster has racked up about CAN$2 billion ($1.31 billion) in debt to purchase Moffat and other properties, leading to a recent downgrade from bond rating service Standard and Poor's.
Bloomberg News contributed to this report.
In addition, make sure to read these articles:
- Shaw Communications Inc: Shareholders Report: Fourth Quarter Ending August 31, 2001.
- Shaw Finishes Replacement High-speed Net
- Shaw Sells Nova Scotia Systems
- Shaw Retrieving Access Stake
- Winalta Inc. Announces 2 New Joint Ventures To Provide 440 New Homes And $33 Million in...
- Two provinces joining fight over yellow margarine ban. (News).
- Provincial road builders strive to hit passing lane.
- A look back @ 2002
- UPDATE: Shaw Communications Inc.: Fiscal 2003 Guidance Update.
- Purchase of Additional Shares of Shaw Communications Inc. by the Shaw Family.
- Purchase of Additional Shares of Shaw Communications Inc. by the Shaw Family.
- Purchase of Additional Shares of Shaw Communications Inc. by JR Shaw.
- Purchase of Additional Shares of Shaw Communications Inc. by the Shaw Family.
- Location Report: Canada
- Correction From Source: Shaw Communications Inc. Dividend Notice.
Business Editors CALGARY, Alberta--(BUSINESS WIRE)--Oct. 16, 2001 Shaw Communications Inc. (NYSE:SJR)(CDNX:SJR.A)(TSE:SJR.B) MANAGEMENT DISCUSSION AND ANALYSIS Certain statements in this report may constitute forward-looking statements. Such ......
Canadian cablecaster Shaw Communications Inc. said Wednesday that it has completed its CAN$330 million ($215 million) high-speed cable network buildout to replace the network currently ......
Canadian cablecaster Shaw Communications Inc. said Thursday that it has sold cable systems in Nova Scotia to rival EastLink Cable for CAN$220 million ($144.5 million).
Shaw Communications Inc. said Thursday that it will buy a 75% stake in Access Communications Inc., a Nova Scotia-based cabler with systems serving 72,500 subscribers ......
Business Editors EDMONTON, Alberta--(BUSINESS WIRE)--April 5, 2002 Winalta Inc. announced 2 new joint ventures today. The company is pleased to participate with a silent investor ......
The Canadian provinces of Alberta and Manitoba have joined Ontario in challenging Quebec's ban on butter-coloured margarine after Canada's oilseed industry invited the provinces to ......
Potholes and deteriorating roads, annoyances that have caught the attention of motorists for years, moved up the political agenda this year giving a longsuffering industry ......
HEADNOTE While all levels of government have been more concerned with the economy and with security this year, information technology has by no means dropped ......
Business Editors CALGARY, Alberta--(BUSINESS WIRE)--Sept. 23, 2002 Please be advised that the Shaw Communications Inc. (NYSE:SJR)(TSX:SJR.B.TO) Guidance Update Conference Call will take place at: Date: ......
Business Editors/High-Tech Writers CALGARY, Alberta--(BUSINESS WIRE)--April 22, 2004 Shaw Communications Inc. (the "Company")(NYSE:SJR) (TSX:SJR.B) has been advised that the Shaw Family, and entities owned or ......
Business Editors/High-Tech Writers CALGARY, Alberta--(BUSINESS WIRE)--Sept. 30, 2003 Shaw Communications Inc. (the "Company") has been advised that the Shaw Family, and entities owned or controlled ......
Business Editors CALGARY, Alberta--(BUSINESS WIRE)--Nov. 29, 2002 Shaw Communications Inc. (the "Company") (NYSE:SJR) (TSX:SJR.B) has been advised that its Founder and Executive Chair, JR Shaw, ......
Business Editors/High-Tech Writers CALGARY, Alberta--(BUSINESS WIRE)--Nov. 4, 2003 Shaw Communications Inc. (the "Company") has been advised that the Shaw Family, and entities owned or controlled ......
Canada's golden age of runaway production is over, but new tax breaks could turn back the clock.
Business Editors/High-Tech Writers CALGARY, Alberta--(BUSINESS WIRE)--Sept. 3, 2003 Shaw Communications Inc. wishes to correct its press release dated September 1, 2003 announcing the declaration of ......
Email
Digg It
del.icio.us
Medical Practices: Why a Good Accountant and Bookkeeper Are Important
Interview with Peter Lucash, AllBusiness.com's Medical Practice Advisor
Business Resources
Sponsored Links
Site Map | Contact Us | FAQs | About Us | Media Kit | Reprints | RSS Directory | Sign Up for Free Newsletters | Disclosure Policy
Copyright © 1999 - 2008 AllBusiness.com, Inc. All rights reserved.
No part of this content or the data or information included therein may be reproduced,
republished or redistributed without the prior written consent of AllBusiness.com.
Use of this site is governed by our Copyright and Intellectual Property Policy, Terms of Use Agreement and Privacy Policy.
© Copyright 2001 Nielsen Business Media, Inc. All rights reserved.
You may not repost, republish, reproduce, package and/or redistribute the content of this page,
in whole or in part, without the written permission of the copyright holder.
Get In-Depth Company Information from Hoover's | Buy a D&B Credit Report | What is in Your Company's D&B Credit Report? | Article Archives
Online Business Database | Online Business Information | Email Marketing Lists | Sales and Marketing Solutions | Business Mailing Lists
Online Business Database | Online Business Information | Email Marketing Lists | Sales and Marketing Solutions | Business Mailing Lists
Information and opinions on AllBusiness.com solely represent the thoughts and opinions of the authors and are not endorsed by, or reflect the beliefs of,
AllBusiness.com, its parent company D&B, and its affiliates.
AllBusiness.com, its parent company D&B, and its affiliates.
