Canada’s largest cable television provider Rogers Communications has agreed to buy the country’s second-largest cable TV company Shaw Communications in a deal valued at over C$20 billion ($16 billion U.S.), the two media giants announced in a press release on Monday.
The merger is expected to be competed in early 2022 if both companies secure approvals from Canadian regulators.
If approved, Rogers has promised to invest more than C$2.5 billion ($2 billion U.S.) in building out 5G wireless networks in western Canada where Shaw primarily offers cable television services. Rogers also promised to set aside funds for building up broadband networks in rural and indigenous areas.
In addition to cable television, Rogers operates a national wireless phone network with more than 10 million subscribers, while Shaw offers satellite television throughout the country.
— Matthew Keys (@MatthewKeysLive) March 15, 2021