Is Shaw’s wireless success enough to offset its cable business declines? [Toronto Globe and Mail (Ontario, Canada)]
Shaw Communications Inc. (SJR)
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Source: Toronto Globe and Mail
Is Shaw’s wireless success enough to offset its cable business declines? It’s been more than three years since Shaw Communications Inc. made what chief executive officer Brad Shaw called “the pivot,” jumping into telecom with both feet with the $1.6-billion acquisition of wireless startup Wind Mobile. To pay for the deal and related spending, the family-controlled company shuffled its television operation, Shaw Media, over to Corus Entertainment (also controlled by the Shaw family) for $1.9 billion in cash, plus Corus shares worth a further $8 million. Since the acquisition, Wind Mobile—now dubbed Freedom Mobile—has been thriving. The division has attracted almost 5, new subscribers under Shaw's ownership—increasing its subscriber base by 5%, to about 1.5 million, and grabbing market share away from the Big Three (BCE, Rogers Communications and Telus). However, that success may be obscuring troubles beneath the surface. Shaw still hasn't bundled wireless with its residential services,
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