Canwest-Shaw deal gets approval, moves forward

An Ontario Superior Court judge approved the sale of CanWest Global Communication’s entire TV assets, including its specialty programming, to Shaw Communications Inc. for $2 billion. The deal includes the transfer of highly popular channels such as Global TV, Slice, Food Network Canada and HGTV.

The approval is a required and significant step in the complete transfer of Canwest’s TV channel operations to Shaw.

The next key steps that will follow is an approval by the Canadian Radio-television and Telecommunications Commission (CRTC) and the Competition Bureau. On September 20, a public CRTC hearing will proceed.

"Once approval is received we will be in a position to close the transaction and begin focusing on the operations and integration of restructured Canwest," said Jim Shaw, CEO and Vice President of Shaw Communications in a press release.

Read more about the approval.