|By Marketwired .||
|October 27, 2010 04:50 PM EDT||
CALGARY, ALBERTA -- (Marketwire) -- 10/27/10 -- Shaw Communications Inc. (TSX: SJR.B) (NYSE: SJR) ("Shaw" or the "Company") today announced that it has closed its purchase (the "Transaction") of all of the broadcasting assets of Canwest Global Communications Corp. ("Canwest").
The Transaction includes the acquisition of 100% of the over-the-air and specialty television businesses of Canwest, including all of Canwest's equity interests in CW Investments Co. ("CW Investments"), the Canwest subsidiary which owns a portfolio of specialty television channels acquired from Alliance Atlantis Communications Inc. in 2007 (the "CW Media Group"). Collectively, these assets will form Shaw Media, a division of Shaw Communications Inc.
"The Asper family built a broadcasting organization which served our country well. We look forward, under our stewardship, to strengthening these important assets for the benefit of all Canadians", said JR Shaw, Executive Chair.
"Today marks the successful emergence of Canwest broadcasting assets from creditor protection and represents a major milestone in the evolution of broadcasting in Canada. We are excited about the possibilities that the marriage of distribution and content creates for all of our stakeholders and we are pleased to be in the position to officially welcome an additional 2,100 employees to the Shaw family", said Brad Shaw, Executive Vice President of Shaw.
The aggregate purchase price for the Canwest broadcasting assets, including the amounts paid prior to closing to acquire the shares of CW Investments from affiliates of Goldman Sachs Capital Partners and the debt to be assumed at the CW Media Group level, is approximately C$2 billion. Based on information provided by Canwest for the year ended August 31, 2010, Canwest's broadcasting assets generated consolidated revenue in excess of C$1 billion and earnings before interest, income taxes, depreciation and amortization ("EBITDA") of over C$260 million. Shaw understands that these results exclude the impact of a one-time CRTC Part II fee recovery and represent revenue growth of 9% and EBITDA growth of 18% compared to fiscal 2009 results.
"In fiscal 2010 the Canwest broadcasting assets generated strong financial results and the growth in revenue and EBITDA was reflective of the general improvement in the Canadian advertising market and the restructuring initiatives undertaken by Canwest. The Transaction is immediately accretive to Shaw's free cash flow and continued growth in Canwest broadcasting assets in fiscal 2011 is expected, albeit at a slower rate compared to fiscal 2010. We anticipate providing additional information in conjunction with the release of our fiscal 2011 first quarter results", said Steve Wilson, Senior Vice President and Chief Financial Officer of Shaw.
"This acquisition brings together outstanding content and distribution capabilities and a team of talented and experienced industry leaders. Together, we will change the competitive landscape and create a new Canadian broadcasting model that delivers quality content when, where and how our customers want to receive it", said Paul Robertson, Group Vice President, Broadcasting and President of Shaw Media.
The following executives will comprise Shaw Media's management team:
Andrew Akman, Vice President, Planning, will oversee strategic planning and business development for Shaw Media. Mr. Akman will be responsible for sourcing and executing initiatives that position Shaw Media for long term growth, including its transformation into an integrated part of the Shaw organization.
Paul Burns, Vice President, Digital Media will be responsible for developing fully integrated and multi-platform strategies for current and future digital media initiatives across all Shaw's business units.
Charlotte Bell, Vice President, Regulatory and Government Affairs, will lead and oversee Shaw Media's regulatory strategies and implementation, including compliance, policy, all aspects of the licensing process and liaising with appropriate regulatory/government agencies and departments.
Carol Darling, Vice President, Engineering and Broadcast Systems, will oversee engineering, master control, transmission and technical services for Shaw Media and will be responsible for driving innovation and synergies with our broadcasting assets.
Errol Da-Re, Senior Vice President, Sales will lead the Shaw Media national and local sales teams, including the Marketing Ventures, Strategic Research, Digital Media and Revenue & Inventory Management teams.
Michael French, Vice President, Finance, will oversee Shaw Media's internal and external financial and performance management reporting as well as budgeting, forecasting, business analysis and support, and cash and risk management functions.
Dervla Kelly, Senior Director, Communications will be responsible for internal and external communications for Shaw Media, which includes oversight of media and industry relations, public affairs and employee communications for the broadcasting business. In addition, Ms. Kelly will assume responsibility for Public Relations for Shaw Communications.
Troy Reeb, Vice President, News, will be responsible for all news and related programming on Global Television and affiliated websites. This includes the flagship network newscast, Global National, the current affairs program 16:9, and the operations of 11 local stations across Canada, plus Global News bureaus around the world.
Barbara Williams, Senior Vice President, Content, will oversee the creation of Canadian original productions, acquisition of top U.S. and international series and scheduling for the company's conventional television network, 19 specialty channels and digital media sites.
Shaw Communications Inc. is a diversified communications and media company, providing consumers with broadband cable television, High-Speed Internet, Digital Phone, telecommunications services (through Shaw Business Solutions), satellite direct-to-home services (through Shaw Direct) and engaging programming content (through Shaw Media). Shaw serves 3.4 million customers, including 1.8 million Internet subscribers and 1.1 million Digital Phone customers, through a reliable and extensive network, which comprises 625,000 kilometres of fibre. Shaw Media includes the second largest conventional television network in Canada, Global Television, and 19 specialty networks including HGTV, Food Network, History and Showcase. Shaw is traded on the Toronto and New York stock exchanges and is included in the S&P/TSX 60 Index (TSX: SJR.B) (NYSE: SJR).
Certain statements included in this news release are forward-looking statements. Such forward-looking statements involve risks, uncertainties and other factors which may cause actual results, performance or achievements to be materially different from performance or achievements expressed or implied by such forward-looking statements. Statements concerning or implying future performance are based on assumptions concerning general economic conditions, including the demand for television advertising, and our ability to capitalize on opportunities that we have identified.
Certain measures included in this news release are non-GAAP financial measures. Neither "EBITDA" nor "free cash flow" is an earnings measure recognized by GAAP and neither term has a standardized meaning prescribed by GAAP. Therefore these non-GAAP financial measures may not be comparable to similar measures presented by other issuers. Investors are cautioned that these non-GAAP financial measures should not be construed as alternatives to net income as determined in accordance with GAAP. We reference EBITDA because we believe it is frequently used by securities analysts, investors and other interested parties in the evaluation of companies. We reference "free cash flow" as it measures the Company's ability to repay debt and return cash to shareholders; for the applicable definition of "free cash flow", please refer to the definitions and discussion under the heading "Key Performance Drivers" in the Company's Management Discussion and Analysis for the fourth quarter ended August 31, 2010.
SYS-CON Events announced today that StarNet Communications will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. StarNet Communications’ FastX is the industry first cloud-based remote X Windows emulator. Using standard Web browsers (FireFox, Chrome, Safari, etc.) users from around the world gain highly secure access to applications and data hosted on Linux-based servers in a central data center. ...
Oct. 24, 2016 10:30 AM EDT Reads: 2,078
SYS-CON Events announced today that Cemware will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Use MATLAB functions by just visiting website mathfreeon.com. MATLAB compatible, freely usable, online platform services. As of October 2016, 80,000 users from 180 countries are enjoying our platform service.
Oct. 24, 2016 10:30 AM EDT Reads: 814
Traditional on-premises data centers have long been the domain of modern data platforms like Apache Hadoop, meaning companies who build their business on public cloud were challenged to run Big Data processing and analytics at scale. But recent advancements in Hadoop performance, security, and most importantly cloud-native integrations, are giving organizations the ability to truly gain value from all their data. In his session at 19th Cloud Expo, David Tishgart, Director of Product Marketing ...
Oct. 24, 2016 10:30 AM EDT Reads: 2,524
Virgil consists of an open-source encryption library, which implements Cryptographic Message Syntax (CMS) and Elliptic Curve Integrated Encryption Scheme (ECIES) (including RSA schema), a Key Management API, and a cloud-based Key Management Service (Virgil Keys). The Virgil Keys Service consists of a public key service and a private key escrow service.
Oct. 24, 2016 10:15 AM EDT Reads: 1,054
SYS-CON Events announced today that eCube Systems, the leading provider of modern development tools and best practices for Continuous Integration on OpenVMS, will exhibit at SYS-CON's @DevOpsSummit at Cloud Expo New York, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. eCube Systems offers a family of middleware products and development tools that maximize return on technology investment by leveraging existing technical equity to meet evolving business needs. ...
Oct. 24, 2016 10:00 AM EDT Reads: 4,482
Effectively SMBs and government programs must address compounded regulatory compliance requirements. The most recent are Controlled Unclassified Information and the EU’s GDPR have Board Level implications. Managing sensitive data protection will likely result in acquisition criteria, demonstration requests and new requirements. Developers, as part of the pre-planning process and the associated supply chain, could benefit from updating their code libraries and design by incorporating changes.
Oct. 24, 2016 09:45 AM EDT Reads: 1,681
The best way to leverage your Cloud Expo presence as a sponsor and exhibitor is to plan your news announcements around our events. The press covering Cloud Expo and @ThingsExpo will have access to these releases and will amplify your news announcements. More than two dozen Cloud companies either set deals at our shows or have announced their mergers and acquisitions at Cloud Expo. Product announcements during our show provide your company with the most reach through our targeted audiences.
Oct. 24, 2016 09:15 AM EDT Reads: 4,660
Fact is, enterprises have significant legacy voice infrastructure that’s costly to replace with pure IP solutions. How can we bring this analog infrastructure into our shiny new cloud applications? There are proven methods to bind both legacy voice applications and traditional PSTN audio into cloud-based applications and services at a carrier scale. Some of the most successful implementations leverage WebRTC, WebSockets, SIP and other open source technologies. In his session at @ThingsExpo, Da...
Oct. 24, 2016 09:00 AM EDT Reads: 2,307
SYS-CON Events announced today that Isomorphic Software will exhibit at DevOps Summit at 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Isomorphic Software provides the SmartClient HTML5/AJAX platform, the most advanced technology for building rich, cutting-edge enterprise web applications for desktop and mobile. SmartClient combines the productivity and performance of traditional desktop software with the simp...
Oct. 24, 2016 09:00 AM EDT Reads: 3,474
Fifty billion connected devices and still no winning protocols standards. HTTP, WebSockets, MQTT, and CoAP seem to be leading in the IoT protocol race at the moment but many more protocols are getting introduced on a regular basis. Each protocol has its pros and cons depending on the nature of the communications. Does there really need to be only one protocol to rule them all? Of course not. In his session at @ThingsExpo, Chris Matthieu, co-founder and CTO of Octoblu, walk you through how Oct...
Oct. 24, 2016 08:15 AM EDT Reads: 3,143
SYS-CON Events announced today that Embotics, the cloud automation company, will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Embotics is the cloud automation company for IT organizations and service providers that need to improve provisioning or enable self-service capabilities. With a relentless focus on delivering a premier user experience and unmatched customer support, Embotics is the fas...
Oct. 24, 2016 08:00 AM EDT Reads: 847
DevOps is speeding towards the IT world like a freight train and the hype around it is deafening. There is no reason to be afraid of this change as it is the natural reaction to the agile movement that revolutionized development just a few years ago. By definition, DevOps is the natural alignment of IT performance to business profitability. The relevance of this has yet to be quantified but it has been suggested that the route to the CEO’s chair will come from the IT leaders that successfully ma...
Oct. 24, 2016 07:30 AM EDT Reads: 16,435
The Internet of Things (IoT), in all its myriad manifestations, has great potential. Much of that potential comes from the evolving data management and analytic (DMA) technologies and processes that allow us to gain insight from all of the IoT data that can be generated and gathered. This potential may never be met as those data sets are tied to specific industry verticals and single markets, with no clear way to use IoT data and sensor analytics to fulfill the hype being given the IoT today.
Oct. 24, 2016 07:30 AM EDT Reads: 2,557
More and more brands have jumped on the IoT bandwagon. We have an excess of wearables – activity trackers, smartwatches, smart glasses and sneakers, and more that track seemingly endless datapoints. However, most consumers have no idea what “IoT” means. Creating more wearables that track data shouldn't be the aim of brands; delivering meaningful, tangible relevance to their users should be. We're in a period in which the IoT pendulum is still swinging. Initially, it swung toward "smart for smar...
Oct. 24, 2016 07:15 AM EDT Reads: 933
@ThingsExpo has been named the Top 5 Most Influential M2M Brand by Onalytica in the ‘Machine to Machine: Top 100 Influencers and Brands.' Onalytica analyzed the online debate on M2M by looking at over 85,000 tweets to provide the most influential individuals and brands that drive the discussion. According to Onalytica the "analysis showed a very engaged community with a lot of interactive tweets. The M2M discussion seems to be more fragmented and driven by some of the major brands present in the...
Oct. 24, 2016 05:45 AM EDT Reads: 11,380