Shaw buying Ontario cableco
The deal for Mountain Cablevision extends reach across Rogers' backyard.
Shaw Communications is moving to buy Mountain Cablevision, adding one of the country’s last family-owned cablecos to its holdings.
The deal stands to pass some 41,000 cable customers, 28,000 Internet subscribers and 27,000 telephone customers currently with the Hamilton, ON.-based company to the Alberta giant. The purchase, made via a Shaw affiliate, is subject to approval by the CRTC and the Toronto Stock Exchange.
The move extends the reach of Shaw across southern Ontario, the backyard of its Toronto-based competitor Rogers Communications.
‘Mountain Cablevision’s industry-leading penetration rates are proof that their products and services are of superior quality, and are delivered with a strong focus on customer service,’ said CEO and vice-chair Jim Shaw in a statement, praising the efforts of Mountain Cablevision’s current owners, the Boris family.
The value of the deal has not been disclosed. Further details are expected pending the approvals.
From Playback Daily