CRTC approves Rogers takeover of Shaw broadcasting services – with conditions [Toronto Globe and Mail (Ontario, Canada)]
BCE, Inc. (BCE)
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Source: Toronto Globe and Mail
Canada’s telecom regulator has approved Rogers Communications Inc.’s RCI-B-T takeover of Shaw Communications Inc.’s SJR-A-X broadcasting services with some conditions attached, clearing the first of three regulatory hurdles facing the $26-billion takeover. The Canadian Radio-television and Telecommunications Commission said in its decision on Thursday that the deal, with the conditions it has proposed, is in the public interest because it would advance the objectives of the Broadcasting Act. Those goals include encouraging the development of programming that reflects Canadian attitudes, opinions and values. “Canadians as consumers will benefit from this transaction,” the CRTC’s decisions reads. The conditions set out by the regulator would require Rogers to pay $27.2-million to the Canada Media Fund, which finances the creation of Canadian content, the Independent Local News Fund, which supports independent television stations in producing local news, and specific independent producti
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