OTTAWA (Reuters) - Shaw Communications Inc's
C$2 billion ($1.9 billion) purchase of Canwest Global
Communications Corp's broadcast arm will not
substantially reduce or prevent competition in the sector,
Canada's Competition Bureau said Friday.
The government agency said it would not challenge the
transaction because there was a lack of relevant competitive
concerns from market participants and there were numerous
alternative options for advertisers.
Shaw, a cable, Internet and telephone company, won court
approval for the Canwest deal in June after amending the terms
of the takeover. Calgary-based Shaw, which also owns
broadcaster Corus Entertainment Inc, agreed to give
C$11 million to Canwest shareholders, who had complained of
being shut shut out of the deal.
The federal communications watchdog, the Canadian
Radio-television and Telecommunications Commission, has set a
Sept. 20 hearing date for the deal.
The deal would give Shaw such Canwest TV assets as
over-the-air broadcaster Global Television, as well as
specialty channels including HGTV, Food Network, Showcase and
Canwest, which filed for bankruptcy in the face of a
crippling debt load, has separately sold its newspaper business
to a bondholder group for about C$1.1 billion.
(Reporting by Susan Taylor; editing by Rob Wilson)