Shaw Communications Inc.(SJR)- NYSE
  • Tue, May 3, 12:50 PM
    • Streaming service Shomi has expanded its reach further by adding Xbox One to its platforms.
    • The service, jointly offered by Rogers Communications (RCI -1.9%) and Shaw Communications (SJR -1.5%), used You.i TV to power the Xbox version, similar to its offerings for iOS/Android and the PlayStation 4.
    • In a move against Netflix, the two telecoms said last May they would open Shomi to all Canadians rather than only their own TV subscribers.
    • Shomi's now available on Web browsers, iOS/Android, Shaw and Rogers' set-tops, Xbox 360 and One, Apple TV, and Google Chromecast.
    • Now read My Top Media And Publishing Stocks For 2016 »
    | Tue, May 3, 12:50 PM
  • Thu, Apr. 14, 10:13 AM
    • Shaw Communications (NYSE:SJR) is off 2.9% after seeing revenue gain slightly in its fiscal Q2 results -- but miss expectations, as did net income that declined nearly 6%.
    • EBITDA of C$658M came in ahead of an expected C$567.9M, though.
    • Shortly following the end of the quarter on Feb. 29, the company closed on its acquisition of Wind Mobile and its sale of Shaw Media, shifting the forward business considerably toward wireless communications and a purer play on connectivity.
    • Revenue by segment: Consumer, $934M (down 0.3%); Business Network Services, $137M (up 6.2%); Business Infrastructure Services, $89M (up 48.3%).
    • Press Release
    • Now read Shaw Communications Picking A Challenging Time To Work To Become The Fourth Major Canadian Telecom Giant »
    | Thu, Apr. 14, 10:13 AM | 1 Comment
  • Fri, Apr. 1, 12:52 PM
    | Fri, Apr. 1, 12:52 PM | 1 Comment
  • Wed, Mar. 23, 5:13 PM
    • Corus Entertainment (OTCPK:CJREF -2.3%) has gotten the OK for its C$2.65B takeover of Shaw Media (SJR -1.5%) from the Canadian Radio-television and Telecommunications Commission.
    • That clears the decks for a closing on April 1. Shareholders approved the deal on March 9 -- including minority shareholders, amid concerns that the Shaw family that controls both companies was unfairly benefiting.
    • The deal's C$2.65B price is to be paid through a combination of cash and Corus Class B shares; Corus gets a combined media portfolio that covers 45 specialty services, 15 conventional channels, 39 radio stations, and a global content business along with digital assets.
    • Previously: Corus shareholders approve C$2.65B Shaw Media purchase (Mar. 09 2016)
    • Previously: Regulator: Corus doesn't need more disclosure on C$2.65B Shaw deal (Mar. 07 2016)
    | Wed, Mar. 23, 5:13 PM
  • Mon, Mar. 7, 4:40 PM
    | Mon, Mar. 7, 4:40 PM | 2 Comments
  • Wed, Mar. 2, 11:31 AM
    • CraveTV -- the streaming service formerly available only to Bell Media (BCE -1.3%) subscribers -- has come to Shaw Cable and Shaw Direct (SJR -2.4%) customers in Western Canada.
    • Customers can access the C$6/month service through Shaw's FreeRange TV app or by downloading CraveTV's app (both for iOS/Android). CraveTV is also available on other viewing platforms, including Apple TV, Chromecast, Windows 8.1, Samsung devices and on the Web.
    • Shaw and Rogers Communications (RCI -0.7%) opened their joint streaming-video competitor, Shomi, to all Canadians last year in a move against Netflix.
    • Shaw says it's made FreeRange TV the "most compelling television viewing app" by combining CraveTV, Shomi and live TV on the go.
    • Previously: Canada's Shomi service comes to PlayStation 4 (Jan. 29 2016)
    • Previously: Rogers, Shaw aim at Netflix in Canada by opening streaming service (May. 27 2015)
    | Wed, Mar. 2, 11:31 AM
  • Tue, Mar. 1, 9:10 PM
    • Corus Entertainment (OTCPK:CJREF +1.6%) has fired back against Catalyst Capital, which has raised concerns about Corus' planned C$2.65B acquisition of Shaw Media and proposed to terminate an outstanding Corus subscription receipts offering for what Corus calls a "hypothetical" rights offering.
    • Catalyst had complained to regulators with concerns that the Shaw family -- which controls both Corus and Shaw Media parent Shaw Communications (SJR +2.7%) -- could reap C$50M just for making the deal happen. It also calculated a different fair value for Shaw Media than Corus has.
    • The hypothetical rights offering is inconsistent with Catalyst's recommendation that shareholders vote against the acquisition of Shaw Media," Corus says in a statement. "If the acquisition is not approved, Corus would have no need to raise the funds proposed under their rights offering. Holders of Corus subscription receipts would have their funds returned.
    • Subscription receipts are a common form of financing, Corus continues, while rights offerings are almost always for situations of financial hardship. The company thinks Catalyst's plan is an attempt to profit from minority shareholders, and possibly take a large stake in Corus.
    • A special meeting is set for March 9 to vote on the deal.
    • Previously: Corus running into hurdles in C$2.65B Shaw Media purchase (Feb. 23 2016)
    | Tue, Mar. 1, 9:10 PM
  • Tue, Mar. 1, 5:12 PM
    • Shaw Communications (SJR +2.6%) has closed on its C$1.6B acquisition of Mid-Bowline Group, and thus its purchase of Wind Mobile, launching its entry into the wireless business.
    • Wind -- the No. 4 provider in the market -- is Canada's biggest non-incumbent wireless firm, with about 940,000 subscribers in Ontario, British Columbia and Alberta.
    • Shaw had said earlier this month that it had fully committed financing for the deal, and it had been cleared by all major government boards. The company closed on a C$300M debt offering that could go toward helping fund the deal.
    • Elsewhere in Canadian telecom: TU +1.5%; BCE +1.2%; RCI +2.2%.
    | Tue, Mar. 1, 5:12 PM | 2 Comments
  • Tue, Feb. 23, 7:52 PM
    • Ahead of a March 9 vote, Corus Entertainment (OTCPK:CJREF +3.9%) is running into snags in its plan to pay C$2.65B for Shaw Media, the media arm of Shaw Communications (SJR -2%).
    • Corus investor Catalyst Capital has complained to two regulators about "serious concerns" regarding whether the Shaw Family, which controls both firms, could gain at least C$50M in the deal. Corus, for its part, rejects Catalyst's calculation of fair value for Shaw Media.
    • Meanwhile, influential proxy adviser Institutional Shareholder Services has expressed concerns about debt and equity Corus will need (C$1.85B in cash, C$800M in stock) for the deal, but is still urging approval as the price "appears fair."
    • Moody's has warned that Shaw could see a hit to creditworthiness if any hitch arrives in its plans to move proceeds from the Shaw Media sale into its C$1.6B purchase of Wind Mobile.
    • Because of the related-party nature of the transaction, a majority of Corus' minority shareholders must sign off.
    • Previously: Corus sets meeting to vote on $2.65B Shaw Media acquisition (Feb. 11 2016)
    • Previously: Shaw set to close on Wind Mobile acquisition March 1 (Feb. 19 2016)
    • Previously: Shaw +15% early; Corus to buy media unit for C$2.65B (Jan. 13 2016)
    | Tue, Feb. 23, 7:52 PM
  • Wed, Feb. 17, 4:51 PM
    • Canadian broadcasters have cut jobs and programming in recent months amid hot digital competition, but Canada's regulator has sent a warning not to cut back on news content.
    • The news comes ahead of key license renewals coming next year. "There were decisions made recently that were completely valid because there were no conditions of license," Canadian Radio-television and Telecommunications Commission Chairman Jean-Pierre Blais says. "The good thing about licensing renewals is that we have an opportunity to have a second look."
    • BCE and Rogers Communications have each gone through cutbacks of hundreds of jobs. But Blais said companies need to serve an audience eager for quality journalism, and that the regulator would issue new rules for local TV news in June, ahead of beginning hearings on license renewals.
    • Canadian TV: BCE flat, RCI +2.2%, SJR +1.6%, TU +0.5%.
    | Wed, Feb. 17, 4:51 PM | 12 Comments
  • Fri, Jan. 29, 3:09 PM
    • Canadian streaming service Shomi -- the joint offering from telecom giants Rogers (RCI +2%) and Shaw (SJR +1.4%) -- has expanded its access to the PlayStation 4.
    • That adds to existing platforms, including the Web, iOS/Android devices, Apple TV (via AirPlay), the Xbox 360 and Google Chromecast as well as the two cablecos' set-top boxes. It's "coming soon" to Xbox One.
    • “With the addition of the PS4 system there are now four Internet-connected ways for members to get great shomi content on their TV screen," says the company's Ann Tebo.
    • The service was launched to all Canadians (not just the partners' subscribers) last summer as Rogers and Shaw made a move against Netflix expansion. Shomi was priced at C$8.99/month, same as Netflix.
    | Fri, Jan. 29, 3:09 PM | 1 Comment
  • Wed, Jan. 13, 9:09 AM
    • Shaw Communications (NYSE:SJR) is up 15% premarket on news that Corus Entertainment (OTCPK:CJREF) has a deal to buy Shaw Media for C$2.65B (about $1.86B).
    • Corus was originally formed from a split of media assets from Shaw in 1999. It will pay some C$1.85B in cash and the rest in class B shares.
    • Shaw Media's channels, including Food Network Canada, History Television, National Geographic Canada, Nat Geo Wild Canada and DIY Network Canada, will boost Corus in segments tied to women, children and family. The result will be a "combined portfolio with significant scale, including 45 specialty television channels, 39 radio stations, digital assets, the content studio, Nelvana, and 15 conventional television stations."
    • It's expected to close in Q3 and be immediately accretive to EPS and free cash flow per share.
    | Wed, Jan. 13, 9:09 AM
  • Dec. 17, 2015, 10:50 AM
    | Dec. 17, 2015, 10:50 AM | 7 Comments
  • Dec. 17, 2015, 10:35 AM
    • Shaw Communications (NYSE:SJR) is being hit hard, -9.2%, after last night's announcement that it's finally buying into wireless in a big way with a C$1.6B acquisition of WIND Mobile.
    • Howard Weil has downgraded the shares, to Sector Perform from Outperform. RBC Capital has cut its price target to C$25, from C$27; shares were down 8.8% in Toronto to C$24.60.
    • Shaw had planned to enter the wireless market as long ago as 2011, but as of last year had sold spectrum it amassed for that move (to rival Rogers, for $100M) and appeared to have abandoned those ambitions.
    • Shaw says the deal is 100% financed with its fully committed bridge facility, and says it's committed to maintaining an investment grade rating in any case. It's keeping the dividend steady.
    • Presentation on WIND acquisition
    • Previously: Shaw Communications buys into wireless with C$1.6B WIND acquisition (Dec. 16 2015)
    | Dec. 17, 2015, 10:35 AM
  • Oct. 23, 2015, 6:12 PM
    • Shaw Communications (NYSE:SJR) fell 1.8% in U.S. trading today after yesterday's earnings miss prompted a rack of price-target cuts from analysts.
    • In Toronto, Shaw's B shares closed down 1.3%, to C$26.11. TD Securities cut its price target to C$32, implying still 22.6% upside from today. Scotiabank cut its target to C$29, while RBC Capital went the lowest of the bunch, setting a target of C$26.
    • Scotiabank and TD have Buy ratings on the stock, while RBC rates it Sector Perform.
    • Meanwhile, Barclays has set a $22 price target on NYSE-listed shares and rated the stock Equal Weight. They closed at $19.82, implying 11% upside.
    • The company fell 1.9% yesterday on the NYSE after posting results that showed subscriber losses.
    • Previously: Shaw Communications lower after revenue miss, subscriber loss (Oct. 22 2015)
    | Oct. 23, 2015, 6:12 PM
  • Jun. 25, 2015, 9:57 AM
    • Shaw Communications (NYSE:SJR) is up 1.5% despite a miss on profits for its fiscal Q3, after growing revenues 6% with help from solid growth in business network services and its ViaWest acquisition.
    • Basic GAAP EPS was C$0.42 (down more than 8%), and adjusted EPS was C$0.44 vs. an expected C$0.50. Revenues of C$1.419B were in line. Total operating income (before restructuring/amortization) of C$643M was up 7% Y/Y.
    • Free cash flow of $256M was up from the prior year's $240M.
    • Revenue by segment: Consumer, C$950M (up 0.5%); Business Network Services, C$131M (up 7.4%); Business Infrastructure Services, C$63M (new, with ViaWest acquisition); Media, C$303M (up 0.7%).
    • The company guided to operating income (before restructuring/amortization) growth for 2015 toward the lower end of a 5%-7% range with inclusion of ViaWest (about $85M). Free cash flow is expected to exceed $650M.
    • Canadian peers are trading higher so far today: BCE +1.6%; RCI +1.4%; TU +0.8%.
    | Jun. 25, 2015, 9:57 AM
Company Description
Shaw Communications, Inc. operates as a diversified communications and media company, which provides consumers with broadband cable television, Internet, home phone, telecommunications services, satellite direct-to-home services and engaging programming content. It operates through three... More
Sector: Services
Industry: CATV Systems
Country: Canada