It’s a done deal.
Corus Entertainment, the company that owns this radio station, is the proud new owner of Shaw Media.
Today, Canada’s broadcast regulator, the CRTC approved the deal between Shaw Communications and Corus entertainment for $2.65 billion.
It means the media division of Shaw will be under the ownership of Corus, that owns radio stations like 680 CJOB, Nelvana animation studio and other specialty TV channels as of April 1st.
By purchasing this arm of Shaw, Corus now gets Global Television and 19 more specialty channels, including HGTV Canada.
When the proposed deal was announced in January, Rick Powers, from the Rotman School of Management at the University of Toronto called the deal a game changer.
“It will change the landscape of Canadian media,” said Powers.
And Corus CEO Doug Murphy was thrilled.
“(It’s) an exciting day for Corus and for Shaw Media” he said.
He also called it the opening of a new chapter for the company.
Both companies are already controlled by the Shaw family through its multiple-voting shares.