Corus Entertainment to buy Shaw Media in $2.65 bln deal

Wed Jan 13, 2016 7:13am EST
 
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Jan 13 (Reuters) - Canadian media company Corus Entertainment Inc said it would buy Shaw Communications Inc's television unit Shaw Media Inc in a $2.65 billion cash-and-stock deal.

Shaw Communications will get about $1.85 billion in cash and 71 million class B shares of Corus, the companies said on Wednesday.

Corus class B shares closed at C$11.21 on Tuesday.

Shaw Media owns TV channels including HGTV Canada, Food Network Canada, History Television and Showcase.

It was not immediately clear if the deal value was in Canadian or U.S. dollars. (Reporting by Sneha Banerjee in Bengaluru; Editing by Kirti Pandey)