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Acquisition 'redefines Corus and Canada's media landscape,' president/CEO says
CBC News Posted: Jan 13, 2016 7:20 AM ET Last Updated: Jan 13, 2016 7:57 AM ET
Toronto-based Corus Entertainment is buying Shaw Media from Shaw Communications in a $2.65-billion deal, Corus said this morning.
"This is a transformational acquisition that redefines Corus and Canada's media landscape," Doug Murphy, president and chief executive officer of Corus, said in a release.
Shaw Media includes the Global Television network and 19 specialty channels, including:
- HGTV Canada.
- Food Network Canada.
- Showcase.
As a result of the acquisition, Corus will own 45 speciality TV channels, 39 radio stations, the content studio Nelvana, and 15 conventional TV stations, according to the release.
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