Thomas Seal and Thomas Seal, Bloomberg NewsVince Valentini, managing director of equity research at TD Cowen, joins BNN Bloomberg to share his outlook for Canadian telcos.
For decades, the Shaws controlled two separate public companies. Shaw Communications focused on selling internet, cable and wireless services to consumers in Western Canada, and was acquired by Rogers in April 2023 for about $20 billion . Corus, which is listed in Toronto, owns a clutch of cable television channels and a network of local TV and radio stations across Canada.
In June, Corus also lost important programming and trademark deals with Warner Bros Discovery Inc. and NBC Universal to Rogers — accelerating its spiral. The Shaws technically control Corus through their ownership of its voting shares. But far more of their wealth is tied to Rogers because of last year’s deal, which made them one of the largest shareholders of Canada’s biggest wireless company outside of the Rogers family. Bradley Shaw and another former Shaw executive sit on the Rogers board.
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