Corporate shuffles at Shaw/Corus/Global TV

CP reports that Shaw Communications is selling its media division to Corus Entertainment for $2.65 billion — a deal that will help fund the telecom company’s purchase of Wind Mobile.
Shaw Media includes the Global Television network and 19 specialty channels including HGTV Canada, Food Network Canada and Showcase — formerly part of the Canwest business group before it was split up.
Corus already owns a number of other specialty TV channels as well as a network of radio stations and the Nelvana animation studio.
Both companies are controlled by the Shaw family through its voting shares. Shaw Communications will become a large shareholder in Corus as a result of the deal, which involves both cash and shares.
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