CALGARY – The Competition Bureau has cleared Shaw Communication’s $2 billion acquisition of 100% of the over-the-air and specialty television businesses of CanWest Global Communications Corp.
In an announcement on Friday, Shaw said that the Competition Bureau concluded that the transaction “will not likely give rise to a substantial lessening or prevention of competition under the Competition Act” because of a number of factors, including effective remaining competition, the effect of the regulatory environment, the absence of relevant concerns expressed by market participants and numerous alternatives available to advertisers.
"The Bureau has conducted a very thorough review and we appreciate their efforts to expeditiously complete their examination," said CEO and vice chair Jim Shaw, in a statement. "We look forward to moving ahead with this transaction. We are certain it will strengthen the Canadian broadcasting system to the benefit of all Canadians."
After receiving court approval in June, Shaw will be able to close the transaction after receiving CRTC approval. The Commission has announced a public hearing during the week of September 20, 2010.
