Shaw Acquires New Cable Systems in British Columbia

Telecom News Editorials Reports Glossary

7:00 am on January 15, 2007 | Category: Business, Telecom Services, Internet, Television

Western Canada’s leading cable operator, Shaw Communications, reached an agreement last week with smaller Mascon Communications, to acquire the cable systems in the B.C. communities of Lillooet, Winfield, and Lumby, as well as on Mayne, Pender, and Galiano Islands.

“We are delighted with the acquisition of these B.C. cable systems,” commented Shaw president, Peter Bissonnette, in a news release. “These cable systems compliment our existing cable properties in and around Kelowna and the Gulf Islands.”

The announcement of these acquisitions, combined with a 7.2% jump in quarterly earnings, sent Shaw’s stock price to seven-year highs late last week.