CALGARY, ALBERTA -- (Marketwired) -- 06/24/15 -- Shaw Communications Inc. (TSX: SJR.B)(NYSE: SJR) confirmed that Rogers Communications Inc. today announced its intention to exercise its option to acquire Shaw's spectrum licenses for advanced wireless service in British Columbia, Alberta, Saskatchewan, Manitoba and Northern Ontario. Rogers acquired the option as one of a number of transactions announced on January 14, 2013.
On exercise of the option, Rogers would pay Shaw $100 million. With the $50 million purchase price for the option and $200 million down payment, each paid by Rogers to Shaw in 2013, the total proceeds for the sale of Shaw's spectrum would be $350 million.
The transaction is expected to close by the end of June 2015.
About Shaw Communications
Shaw Communications Inc. is a diversified communications and media company, serving 3.2 million customers through a reliable and extensive fibre network. Shaw serves consumers with broadband Internet, WiFi, Digital Phone and Video products and services. Shaw Business Network Services provides business customers Internet, data, WiFi, telephony, Video and fleet tracking services. Shaw Business Infrastructure Services offers North American enterprises colocation, cloud and managed services through ViaWest. Shaw Media provides Canadians with engaging programming content through one of Canada's largest conventional television networks, Global Television, and 19 specialty networks including HGTV Canada, Food Network Canada, HISTORY® and Showcase. Shaw is traded on the Toronto and New York stock exchanges and is included in the S&P/TSX 60 Index (TSX: SJR.B) (NYSE: SJR). For more information, please visit www.shaw.ca.
Shaw Communications Inc.
VP, External Affairs