Goldman Sachs & Canadian TV.

Monday, May 3, 2010 9:14 AM

Shaw seizes TV control
Andrew Willis

The future of Canadian television came into high definition on Monday, as Shaw Communications struck a deal that gives the cable company full control of CanWest Global Communications’ stable of TV channels.

Shaw will pay $700-million (U.S.) to buy out Goldman Sachs' stake in CanWest’s lucrative specialty television assets, a move that ends a dispute between the New York investment bank and CanWest’s suitor. Shaw also struck a deal Monday to take out CanWest’s creditors.

When all is said and done, Shaw will have total control of CanWest and become a deep-pocketed and fiercely competitive rival to the major players in domestic television, CTVglobemedia, Rogers Communications and Quebecor.

http://www.theglobeandmail.com/globe-investor/markets/streetwise/shaw-seizes-tv-control/article1554611/