Shaw Buying Mountain Cablevision in Ontario
Boris Family Selling Cable Firm With 41,000 Subscribers
by MCN Staff -- Multichannel News, 7/17/2009 11:27:17 AM
Shaw Communications said it has agreed to buy Mountain Cablevision Ltd., a family owned small cable operator based in Hamilton, Ontario.
Shaw, the biggest cable provider in Western Canada, said it would pay cash and might also issue Class B non-voting shares but did not disclose the purchase price. It said it would disclose more about the transaction after regulatory approvals come through. The Web site Carrt.ca, industry covering the Canadian cable industry, reported the price was $220 million in Canadian dollars, about $197 million U.S., or about $4,900 U.S. per cable subscriber.
Mountain Cablevision has 41,000 cable subscribers, 28,000 Internet subscribers and 27,000 telephone customers. Shaw has 3.4 million cable subscribers.
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