Rogers signs deal to buy Shaw in transaction valued at $26B

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Rogers signs deal to buy Shaw in transaction valued at $26B

Postby radiofan » Mon Mar 15, 2021 9:08 am

Rogers signs deal to buy Shaw in transaction valued at $26B
Rogers to invest $2.5B in 5G networks across Western Canada over next 5 years as part of transaction
The Canadian Press · Posted: Mar 15, 2021 8:25 AM ET |

Rogers Communications has signed a deal to buy Shaw Communications in a transaction valued at $26 billion, including debt, which would create Canada's No. 2 cellular operator — but is likely to face stiff regulatory scrutiny.

Under the plan, Rogers will pay $40.50 in cash for each of Shaw's issued and outstanding class A and class B shares. Shaw's class B shares closed at $23.90 on the Toronto Stock Exchange on Friday.

As part of the transaction, the companies said Rogers will invest $2.5 billion in 5G networks over the next five years across Western Canada.

Rogers also says it will create a new $1 billion fund dedicated to connecting rural, remote and Indigenous communities across Western Canada to high-speed internet service.

By acquiring fourth-ranked Shaw, Rogers would leap past current No. 2 Telus to take on market leader BCE Inc., the publicly traded holding company for the Bell Canada group of companies.

Deal subject to shareholder approval, regulatory review

The deal, which requires shareholder approval, is subject to other customary closing conditions, as well as approvals from Canadian regulators. It is expected to close in the first half of 2022.

The deal will face review by the independent Competition Bureau of Canada, the Canadian Radio-television and Telecommunications Commission (CRTC), as well as the federal department of Innovation, Science, and Economic Development (ISED).

Canadian Innovation Minister François-Philippe Champagne said the review would focus on "affordability, competition, and innovation."

Rogers chief executive Joe Natale told analysts in a Monday morning conference call that it's too early to speculate on whether the competitors will be required to divest any of their operations.

"But we feel confident this transaction will be approved," Natale said.

Read more here: https://www.cbc.ca/news/business/rogers ... -1.5949825
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Re: Rogers signs deal to buy Shaw in transaction valued at $

Postby tuned » Mon Mar 15, 2021 10:43 am

Trudeau will rubber stamp this and cel phone prices will skyrocket. Why not just have one company own everything? Or even better why not have the government own everything but then they pretty much already do since taxpayers are writing weeks checks to Bell, Telus and Rogers.
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Re: Rogers signs deal to buy Shaw in transaction valued at $

Postby the-real-deal » Mon Mar 15, 2021 3:08 pm

As a long time subscriber to both "Robbers" and "Shatt" (colloqualisms courtesy of the late Mike Cleaver LOL), I can only imagine what it is store for clients of these businesses.

Shaw, the worst company, ever, for customer service and technical support, has let me down (over 150 times) in the last one year (since march of 2020) with drops to my internet service.

We upgraded the service to Internet 75 on Friday and the service dropped, again, this morning.

No internet service, no email service, or nothing, even though the speed increased "four times" from previously (according to Shaw).

My question is how are things going to change for the better, with Rogers owning Shaw ?

Shaw will still have their Calgary office headquarters and their corrupt President, Jim Shaw, will still be employed, according to the press release. How will that change things, when Jim Shaw is still in control of the Western Canadian operations. He is the main reason why customer service is lacking within the corporation.

Meanwhile, those of you working at a major market station with both Rogers Radio and TV and Corus Radio and tv in the same market, have fun with that !

Under the new Rogers corp, will television announcers be forced to read radio news, (for the same wages) or will on air staff have to sell advertising, as well, such as Rogers cell phones. LOL Or, will they just simply lay off more people ?

We have no idea what is in store !

This proposal is complicated, indeed. However, history has shown that when people with money make deals in this country, they are rarely turned down at the government office, isn't it so, Justin Trudeau? There's a federal election coming up this year and the Libs need your votes to get that majority government that they desperately crave !

Or, wait, is Western Canada pretty much irrelevant, politically, and the Liberals' only hope is to knock off the BQ in Quebec ?

Don't believe for a minute, folks, the addition of 200 plus new jobs with this merger, unless you want to work at a Rogers call center selling cell phones and or Toronto Blue Jays season tickets !

( I will say this for Rogers. after years of cheapdom, they did pony up and sign up some impressive free agent talent in the off season market, and the Jays are looking better than ever, these days. But guess who will pay for George Springer's outrageous $ 140 million U.S. contact. We, the cell phone users, that's who ? and my Rogers phone has dropped calls over 150 times in the last one year, did I mention that ?
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Re: Rogers signs deal to buy Shaw in transaction valued at $

Postby Aaron » Mon Mar 15, 2021 3:26 pm

the-real-deal wrote:
Meanwhile, those of you working at a major market station with both Rogers Radio and TV and Corus Radio and tv in the same market, have fun with that !


Corus was spun off from Shaw in recent years and is not included in this.
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Re: Rogers signs deal to buy Shaw in transaction valued at $

Postby the-real-deal » Mon Mar 15, 2021 3:38 pm

I'm glad, Aaron, if that is the case.

There is a real danger that if this industry, collectively, keeps laying off its best people, that the public will just tune out for good and radio and tv presenters will be forced to find a second career or moonlight, just like cops in the deep south working as security guards, Canadians who juggle two or three jobs, working seven days a week, with no idea what their work shift will be, from week to week, as basically, you are at the whim of your employer ?

Keep that in mind, if you are working from home over the internet ? Establish, in writing, clear boundaries and rules with your employer over when you are available to work and when your days off are. Otherwise, you could f*ck up your life and end up being a paid slave.

Always allow for time off with your family and friends. They should come, first, before your career and they will be with you, in the event that you have to leave the business.
Last edited by the-real-deal on Mon Mar 15, 2021 3:41 pm, edited 1 time in total.
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Re: Rogers signs deal to buy Shaw in transaction valued at $

Postby groundskeeper willy » Mon Mar 15, 2021 3:39 pm

the-real-deal wrote:Shaw will still have their Calgary office headquarters and their corrupt President, Jim Shaw, will still be employed, according to the press release. How will that change things, when Jim Shaw is still in control of the Western Canadian operations. He is the main reason why customer service is lacking within the corporation.


Slight correction, Jim's been dead for years, lil' brother Brad has been occupying the corner office for some time now.

It hadn't been a well-kept secret that Shaw Communications was on the hunt for a buyer to take them out, the massive amount of staff reduction over the past couple of years did nothing to help with customer service or the delivery quality of their products, but it sure did tighten up the bottom line and improve the margins, something that finally caught the eye of Rogers. What's the line from the old Who song? "Meet the new boss, same as the old boss, we all get screwed again?" (or something like that).
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Re: Rogers signs deal to buy Shaw in transaction valued at $

Postby the-real-deal » Mon Mar 15, 2021 3:45 pm

Got it about Jim Shaw. but many critics claim that Shaw's "improved bottom line" came at the expense of the paying public ? Like the 15 million dollar pension guaranteed to Brad Shaw and the profits going mostly to the Class A shareholders, are just but two outrageous examples.
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Re: Rogers signs deal to buy Shaw in transaction valued at $

Postby groundskeeper willy » Mon Mar 15, 2021 4:04 pm

Hey, no argument about how shitty a company Shaw Communications is. Let's face it, the only reason why the company has grown to the size it is is because of the protectionism afforded by the Federal government, well, that and the well-documented collusion between Jim Shaw and Ted Rogers to align their operations into regional monopolies. Ever wonder why Shaw had all their holdings in the west while Rogers was in the east? Simply the result of them deciding that competition is bad for growth. Kinda like how the mafia operates in Italy.
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Re: Rogers signs deal to buy Shaw in transaction valued at $

Postby Talker » Mon Mar 15, 2021 4:18 pm

My head is spinning! It's a wonder these people get any sleep, at any time of the day. All they see is collusion, nepotism and crooked business people and politicians.

Give these topics and yourselves a rest.

Thank you.
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Re: Rogers signs deal to buy Shaw in transaction valued at $

Postby the-real-deal » Mon Mar 15, 2021 6:46 pm

groundskeeper willy wrote:Hey, no argument about how shitty a company Shaw Communications is. Let's face it, the only reason why the company has grown to the size it is is because of the protectionism afforded by the Federal government, well, that and the well-documented collusion between Jim Shaw and Ted Rogers to align their operations into regional monopolies. Ever wonder why Shaw had all their holdings in the west while Rogers was in the east? Simply the result of them deciding that competition is bad for growth. Kinda like how the mafia operates in Italy.


Okay, then. If is really is the "mafia," then, let's cut the crap and bring in the "American" mafia (A T and T, Sparklight) or the "Chinese" mafia (Hwawei, Alibaba) to Canada and have foreign ownership of all Canadian media. However, I think that you would much prefer the former, though.

Might as well have the Yanks and the Chinese battle it out for our Canadian sovereignty, while we locals "munch on popcorn" just like the Shaw phone line pitchwoman suggests ? :yahoo:
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Re: Rogers signs deal to buy Shaw in transaction valued at $

Postby groundskeeper willy » Mon Mar 15, 2021 7:32 pm

The nationality of the company that winds up running the phone / cable / internet / radio / tv station I'll consume in the future makes no difference to me. As long as they offer fair pricing and a deliver quality product, as a consumer that's all that I need. The 'walled garden' approach to Canadian culture & business is now a dated relic, one that only breeds mediocrity and re-enforces the tired cliche that only Canadians understand what Canadians want & need. Puhh-lease. If Verizon, Vodaphone, Deutsche Telekom, Nippon, Orange or any other major international phone company were allowed to operate in this country, I'd jump to them in a heartbeat with nary a second thought.
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Re: Rogers signs deal to buy Shaw in transaction valued at $

Postby the-real-deal » Tue Mar 16, 2021 4:10 pm

In addition to fair pricing and or the "lowest" price, I will only engage with "foreign" businesses who have a positive human rights record and a record of treating their employees, fairly.

Therefore, those who offer "boiler rooms" and or "sweat shop" customer service, medieval working conditions, and or those who hire and abuse very young children or women, in general, to make their electronic goods, I won't do business with those operators and neither should Canadians !
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