Shaw Communications (NYSE: SJR) has moved to acquire Sun Country Cablevision as consolidation in the Canadian cable TV sector continues. The Calgary-based industry giant is buying the much smaller rival, based in Salmon Arm, B.C., along with two Sun Country affiliates.
The deal comes just a week after Shaw reported third quarter earnings that showed a strong rebound in revenue and overall earnings, though some of the bottom line improvement came at the cost of more than 500 jobs that were cut from the firm. It also comes less than a year after Shaw acquired CanWest. The Canadian cable sector continues to consolidate around four major players--Shaw, Rogers Communications, Cogeco Cable and Quebecor Media.
- here's the Hollywood Reporter story
Shaw posted vastly improved third quarter results last week
Shaw acquired CanWest last year amid controversy