Tuesday, March 8, 2016

Corus need not reveal more on Shaw media deal: regulator

The Ontario Securities Commission on Monday ruled that Corus Entertainment Inc need not disclose more details of its $2.65 billion proposal to buy media assets from Shaw Communications Inc., Reuters reports. The ruling means that a shareholder vote due on Wednesday can proceed.       
The OSC's three-person panel issued the ruling in response to an application from private equity firm Catalyst Capital, a minority Corus shareholder fiercely critical of the deal. Catalyst argued the deal would unfairly benefit the Shaw family, which controls both companies, to the detriment of minority investors. Corus investors are due to cast ballots on Wednesday.
The deal, if approved, would give Corus control of more than one-third of the English-language TV market in Canada, and help Shaw fund its expansion into wireless via the purchase of Wind Mobile.


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