Canada's Shaw Communications profit falls as it loses TV subscribers

Thu Jan 14, 2016 8:11am EST
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Jan 14 (Reuters) - Shaw Communications Inc on Thursday reported a 4 percent fall in first-quarter profit, as it continued to lose television subscribers, offsetting a rise in internet accounts.

The company's net income fell to C$218 million ($152 million), or 43 Canadian cents per share, in the quarter, from C$227 million, or 46 Canadian cents, a year earlier.

Shaw's quarterly revenue rose 2.2 percent to C$1.42 billion in the three months ended Nov. 30.

Shaw said on Wednesday it would sell its television assets to Corus Entertainment Inc to fund its bid for wireless company Wind Mobile. ($1 = C$1.44) (Reporting by Alastair Sharp in Toronto and Amrutha Gayathri in Bengaluru; Editing by Savio D'Souza)