Shaw Communications Applauds Expansion of Federal Connecting Families Initiative

Rhea-AI Summary

Shaw Communications supports the Canadian government’s initiative to enhance the Connecting Families program, aimed at providing affordable Internet to low-income families. President Paul McAleese emphasized the importance of bridging the digital divide and highlighted the company’s commitment to offer low-cost broadband services. The proposed merger with Rogers Communications aims to expand internet services under the Connected for Success initiative across Canada. The initiative currently supports subsidized tenants, seniors, and families, but forward-looking statements indicate potential risks and uncertainties regarding the completion of the merger.

Positive

• Support for government initiative to enhance affordable Internet access.
• Commitment to bridge the digital divide for low-income families.
• Proposed merger with Rogers could expand low-cost broadband services nationwide.

Negative

• Forward-looking statements contain inherent risks and uncertainties.
• No guarantee that the proposed merger will occur or provide anticipated benefits.

CALGARY, Alberta, Aug. 11, 2021 (GLOBE NEWSWIRE) -- Shaw Communications Inc. today said it supports steps by the Minister of Innovation, Science and Industry to enhance the industry-funded Connecting Families program.

“Since its inception in 2018, the Connecting Families program has worked to help bridge the digital divide for Canadian families who may have found it difficult to afford home Internet services. We applaud the Minister for announcing plans to expand this industry-funded program, making low-cost internet services possible for more eligible families in more communities across Canada,” said Paul McAleese, President, Shaw Communications.

“As a major internet service provider and network builder, we understand the importance of finding ways to deliver the quality broadband service needed today for people to work, learn, and gain access to government services, regardless of their economic circumstances,” Mr. McAleese said. “One of the direct benefits of the proposed combination of Shaw with Rogers Communications announced in March 2021 is to expand Rogers Connected for Success initiative nationally to reach eligible Canadians where the combined company offers internet services. Connected for Success is open to additional eligible groups, which allows it to reach even more Canadians than the Connecting Families initiative. We’re committed to continuing to work closely with regulators to ensure the successful completion of our transaction with Rogers, so that the combined company can provide low-cost broadband to more Canadians in Western Canada.”

The Rogers’ Connected for Success initiative currently offers high-speed, low-cost internet across Ontario, New Brunswick and Newfoundland to subsidized tenants, seniors, families with children and to individuals receiving disability and income support.

Cautionary Statement:
This news release includes “forward-looking information” within the meaning of applicable securities laws relating to, among other things, the anticipated benefits of the transaction, including the reach and availability of the combined entity’s products and services and the combined entity’s ability to provide low-cost broadband to more Canadians in Western Canada.

We caution that all forward-looking information is inherently subject to change and uncertainty and that actual results may differ materially from those expressed or implied by the forward-looking information. A number of risks, uncertainties and other factors could cause actual results and events to differ materially from those expressed or implied in the forward-looking information or could cause our current objectives, strategies and intentions to change. Accordingly, we warn investors to exercise caution when considering statements containing forward-looking information and that it would be unreasonable to rely on such statements as creating legal rights regarding our future results or plans. We cannot guarantee that any forward-looking information will materialize and you are cautioned not to place undue reliance on this forward-looking information. Any forward-looking information contained in this news release represent expectations as of the date of this news release and are subject to change after such date. However, we are under no obligation (and we expressly disclaim any such obligation) to update or alter any statements containing forward-looking information, the factors or assumptions underlying them, whether as a result of new information, future events or otherwise, except as required by law. All of the forward-looking information in this news release is qualified by the cautionary statements herein.

Forward-looking information is provided herein for the purpose of giving information about the proposed transaction referred to above and its expected impact. Readers are cautioned that such information may not be appropriate for other purposes. The completion of the above-mentioned proposed transaction is subject to customary closing conditions, termination rights and other risks and uncertainties including, without limitation, certain regulatory approvals. Accordingly, there can be no assurance that the proposed transaction will occur. The proposed transaction could also be modified, restructured or terminated. There can also be no assurance that the anticipated benefits expected to result from the transaction will be fully realized.

A comprehensive discussion of other risks that impact Rogers and Shaw can also be found in their public reports and filings which are available under their respective profiles at www.sedar.com.

About Shaw Communications Inc.
Shaw is a leading Canadian connectivity company. The Wireline division consists of Consumer and Business services. Consumer serves residential customers with broadband Internet, Shaw Go WiFi, video and digital phone. Business provides business customers with Internet, data, WiFi, digital phone, and video services. The Wireless division provides wireless voice and LTE data services.

Shaw is traded on the Toronto and New York stock exchanges and is included in the S&P/TSX 60 Index (Symbol: TSX – SJR.B, NYSE – SJR, and TSXV – SJR.A). For more information, please visit www.shaw.ca

For media inquiries, please contact:
Shaw Communications Inc.
Chethan Lakshman, VP, External Affairs
(403) 930-8448
chethan.lakshman@sjrb.ca

FAQ

What is the Connecting Families program supported by Shaw Communications?

The Connecting Families program aims to provide affordable Internet services to low-income Canadian families.

How does Shaw's merger with Rogers Communications impact Internet services?

The merger intends to expand low-cost broadband services across Canada under the Connected for Success initiative.

What are the risks associated with Shaw's proposed merger with Rogers?

There are risks and uncertainties regarding regulatory approvals and the overall success of the merger.

What groups are eligible for the Connected for Success initiative?

Eligible groups include subsidized tenants, seniors, families with children, and individuals receiving income support.

What are the stock symbols for Shaw Communications?

Shaw is traded on the TSX as SJR.B and on the NYSE as SJR.