Shaw Communications Inc.
The Transaction remains subject to other customary closing conditions including approvals from certain
Canadian regulators. Shaw and Rogers are working cooperatively and constructively with the Competition Bureau, Innovation, Science and Economic Development Canada (ISED) and the Canadian Radio-television and Telecommunications Commission (CRTC) in
order to secure the requisite approvals.
In connection with Rogers application filed in April 2021 for CRTC approval to acquire Shaws
licensed broadcasting assets, public interventions were filed September 13, 2021, with Rogers reply to interventions filed September 23, 2021. The CRTC held an oral hearing from November 22 to 26, 2021, during which Rogers,
Shaw, and 31 interveners (including Canada Public Affairs Channel Inc. (CPAC) as an interested party) had an opportunity to comment on and respond to questions from the CRTC regarding the application. Final written submissions from interveners were
accepted until December 13, 2021, and Rogers and CPAC submitted final replies on December 20, 2021.
In accordance with the terms of the
Arrangement Agreement, Rogers and Shaw filed pre-merger notifications pursuant to Part IX of the Competition Act (Canada) in April 2021 to trigger the Competition Bureaus review of the
Transaction. Since that time, Rogers and Shaw have worked cooperatively and constructively to respond to further requests for information, as required under the Arrangement Agreement. On September 28, 2021, the Competition Bureau issued a
public request for information to help further gather and assess facts about the Transaction. The Competition Bureau invited interested parties to share their information confidentially with the Bureau by October 29, 2021. The Federal Court
also issued orders requiring Xplornet Communications Inc., BCE Inc., TELUS Corporation and Quebecor Inc. to produce records and written information related to mobile wireless services that are relevant to the Competition Bureaus review of the
Transaction. The Competition Bureaus review of the Transaction is ongoing.
In accordance with the conditions of the spectrum licences held by the
Company, Rogers and Shaw filed joint applications in April 2021 with ISED for approval of the indirect transfer of those spectrum licences by the Minister of Innovation, Science and Industry. ISEDs review is ongoing.
Subject to receipt of all required approvals and satisfaction of all closing conditions, closing of the Transaction is expected to occur in the first half of
2022.
Further information regarding the Transaction is contained in the management information circular filed April 23, 2021 on Shaws SEDAR
profile at www.sedar.com and EDGAR profile at www.sec.gov/edgar.shtml.
Wireless
Our Wireless division currently operates in Ontario, Alberta and British Columbia, covering approximately 50% of the Canadian population.
On July 30, 2020, the Company launched Shaw Mobile, a new wireless service in western Canada that leverages Shaws LTE and Fibre+ networks, along
with Canadas largest WiFi service, to provide Shaw Internet customers with an innovative wireless experience. Shaw Mobile provides Shaw Internet customers with bundling opportunities, combined with the ability to customize their mobile data
requirements, and is a powerful example of how facilities-based service providers can compete and innovate. Shaw Mobile capitalizes on the long-term trend that shows the vast majority of Canadians smart device data usage occurs on WiFi
networks, a fact amplified by recent work-from-home trends.
First quarter fiscal 2022 results include Wireless net additions of approximately 55,600.
Wireless service revenue increased 11.2% to $239 million and adjusted EBITDA increased 45.3% to $109 million compared to the first quarter of fiscal 2021, primarily due to continued service revenue growth and improved
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