MONTREAL — Shaw Communications Inc. has won approval from the CRTC to buy Canwest’s TV stations and specialty channels in a deal that will further change the Canadian broadcasting landscape.
The ruling by the federal broadcast regulator marks one of the final steps in completing the $2-billion transaction.
CRTC chairman Konrad von Finckenstein says the commission is satisfied the transaction will generate “substantial benefits” for the Canadian broadcasting system.
He says Shaw will provide the Canwest television properties with stable ownership as they emerge from a period of uncertainty.
The broadcasting system also stands to gain from Shaw’s commitment to support local programming and the transition to digital television.
With the deal, Shaw Communications (TSX:SJR.B) will become a major communications firm, in everything from cable and satellite TV to cellphone and home phone services, TV broadcasting and Internet operations.
The Shaw deal continues the consolidation of Canada’s private broadcasting sector, which has been swallowed up by a handful of big communications companies.