Corus investors vote in favor of Shaw Media purchase

Wed Mar 9, 2016 10:47am EST
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TORONTO, March 9 (Reuters) - Minority shareholders in Corus Entertainment Inc voted on Wednesday in favor of the media company's planned C$2.65 billion purchase of Shaw Media from its sister company Shaw Communications Inc.

An activist investor had sought to scuttle the vote, saying it unfairly advantaged the Shaw family that controls both companies to the detriment of minority shareholders.

Corus said the tentative rate of approval of class B non-voting shareholders was just over 78 percent. (Reporting by Alastair Sharp; Editing by Chizu Nomiyama)