It’s a big day for Corus Entertainment making a major takeover official.
“This is a landmark day for us,” said Doug Murphy, President and Chief Executive Officer. “As a combined company, we are creating an integrated media and content powerhouse that gives us the competitive scale to grow both domestically and globally. With our strong media brands, compelling content and talented team, this transformational acquisition marks a new beginning that builds on our strengths and positions us well for future growth.”
As for the purchase of Shaw Media, it’s worth more than $2.5 billion dollars and more than doubles the size of the company.
It means Corus now owns 19 more television stations including Food Network Canada, HGTV Canada, History Channel, Showcase and all the Global Television stations across the country, including here in Winnipeg.
A new company logo (pictured) was also revealed.
“The redesigned Corus logo represents the start of a new chapter for us. It’s a powerful visual cue that the new Corus has arrived,” said Murphy.
Murphy also announced a senior leadership team, featuring executives from both Corus and Shaw Media.
“Corus and Shaw Media each have extraordinary talent across all levels, and we are confident that we have put in place a team and structure that will enable us to immediately advance our strategic priorities,” said Murphy. “There remains much work to be done, but we have a plan in place and are moving quickly to integrate these two companies and realize the benefits of the combined organization.”