SHAW CREATES CORUS ENTERTAINMENT
By Adnews Staff
The Canadian Radio-television and Telecommunications Commission has approved Canada's newest media company, CORUS Entertainment, created from the media assets of Shaw Communications. CORUS has assets in television, radio, digital music and advertising services. The company owns YTV, Treehouse TV and CMT, Canada's country music television network. CORUS will also own equity on three other networks, Comedy (15%), Telelatino (20%) and Teletoon (20%). Currently there are two specialty network applications before the CRTC which, if approved, would expand CORUS' specialty television business. The applications are for Chaoes, targeted at teens and The Edge, a new rock music network. In the radio industry, CORUS will have 11 radio stations across Canada. Pending CRTC approval, three new stations recently acquired from Blackburn Radio Inc. of London, Ontario, will join the entertainment company. CORUS Entertainment will also include DMX, a digital music service and Shaw's Advertising Services. Shaw has announced its intention to spin off CORUS as a separate publicly traded company. CORUS is expected to be fully established by September 1, 1999.