Shaw Media - Wikiwand
Shaw Media, Inc. was the television broadcasting division of Shaw Communications. It owned the Global Television Network, which broadcasts nationally via 13 tel... It owned the Global Television Network, which broadcasts nationally via 13 television stations, as well as 19 specialty channels including Slice, HGTV Canada, Showcase, Food Network Canada, and History. Shaw Media consisted of the broadcasting assets of the former Canwest.On September 24, the company announced that it would sell its 50.1% stake in Ten Network Holdings for A$680 million,[5] in order to pay down its significant debt. The sale of CanWest's Australian media operations reduced some C$582-million in debt tied to the Australian TV network, raising the total value Canwest can erase from its overall debt to more than C$1.2-billion.As part of the transaction, Canwest and some of its subsidiaries, including Canwest Media Inc., The National Post Company, and Canwest Television LP (the licensee of Global, MovieTime, DejaView, and Fox Sports World Canada) filed for creditor protection under the CCAA.Although Goldman, Catalyst, and the Aspers continued to work on their own bid after the Shaw agreement, Shaw announced a revised agreement, following court ordered mediation, under which it would purchase the entirety of Canwest's broadcasting operations, including the portion owned by Goldman.[15] This deal was later modified following a second court ordered mediation to include a settlement agreement between Shaw, creditors, and the Official Ad Hoc Committee of Shareholders, led by the Aspers, Blott Asset Management, L.L.C.