Shaw Communications to Acquire the Campbell River Cable System

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Shaw Communications to Acquire the Campbell River Cable System

Shaw Communications Inc. (TSX: SJR.B) (NYSE: SJR) ("Shaw") is pleased to announce that the membership of the Campbell River TV Association ("CRTV") has overwhelmingly approved the sale of the cable system in and around Campbell River, British Columbia to Shaw. The transaction is valued at approximately $46 million and is scheduled to close pending CRTC approval.

"We are delighted that the CRTV membership has so strongly endorsed our offer", said Peter Bissonnette, President of Shaw Communications. "We look forward to serving the Campbell River customers who join their neighbours from Courtenay and the Comox Valley in choosing Shaw."

"We are proud of the services we developed and offered at CRTV over the last 50 years," said John Kerr, President of the Board of Directors of CRTV. CRTV began operations in 1957 and has provided the residents of Campbell River with cable and Internet offerings. "Our members recognize that they will enjoy an enhanced offering of entertainment, Internet and digital phone services through Shaw."

Shaw Communications Inc. is a diversified communications company whose core business is providing broadband cable television, High-Speed Internet, Digital Phone, telecommunications services (through Shaw Business Solutions) and satellite direct-to-home services (through Star Choice). The Company serves 3.3 million customers, including 1.5 million Internet and over 550,000 residential Digital Phone customers, through a reliable and extensive network, which comprises over 600,000 kilometres of fibre. Shaw is traded on the Toronto and New York stock exchanges and is included in the S&P/TSX 60 Index (TSX: SJR.B) (NYSE: SJR).

Copyright © 2009, MarketWire
Copyright © 2009, NewsBlaze, Daily News

Tags: ,Computers and Software:Internet, MediaandEntertainment:Television, Telecom:CableandSatelliteServices, Telecom:Networking, Telecom:TelecommunicationEquipment, ,NYSE0001,NYSE0001,NYSE0001,GA,CALGARY, ALBERTA

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