CanWest Global Communications Corp. and Shaw Communications Inc. Reach Agreement.CALGARY, Alberta--(BUSINESS WIRE)--Aug. 18, 1998--Shaw Communications Inc. and CanWest Global Communications CanWest Global Communications Corp. TSX: CGS TSX: CGS.A NYSE: CWG is one of Canada's largest international media companies. The company's head office is situated in Winnipeg, Manitoba, at the tallest building (CanWest Global Place) in the city and it is on the Corp. (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). : CGS.A.) (TSE: CGS.S.) (NYSE NYSE See: New York Stock Exchange : CWG) announced today that they have reached agreement on the allocation of the WIC Western International Communications assets. Under the terms of the preliminary agreement CanWest will assume control of the WIC television assets. In addition CanWest will assume responsibility for WIC's interests in ROBTV ROBTV Report on Business Television (Canada) and TQS. Shaw will assume control of the radio, pay television, specialty television and Cancom assets. These transactions are subject to CRTC CRTC Canadian Radio-Television & Telecommunications Commission CRTC Combat Readiness Training Center CRTC Cathode Ray Tube Controller CRTC China Railway Telecommunications Center CRTC Cold Region Test Center CRTC Continuously Regenerated Trap Column approval. CanWest acquired these assets for a total consideration of $950 million made up of cash and shares that they acquired in WIC. "This has been a complex deal and still has numerous hurdles to overcome but the two major shareholders in WIC are now of one mind as to its future which is great for WIC as well as Shaw and CanWest," said IH Asper, Executive Chairman ofCanWest Global. "We believe this transaction is in the best interests of the Canadian broadcasting system. We've maintained our focus on specialty television and radio and CanWest focuses its expertise on the conventional television side," said Jim Shaw, President and COO of Shaw Communications Inc. Assets of WIC TV Acquired by CanWest 1. Conventional Television CHAN-TV - Vancouver CHEK-TV - Victoria CHBC-TV - Kelowna CITV CITV Commander's Independent Thermal Viewer CITV Children's Independent Television (UK) CITV Commander's Integrated Thermal Viewer - Edmonton CICT CICT Commission on Information and Communications Technology - Calgary CISA (Certified Information Systems Auditor) The award for successful completion of an examination in information systems audit, control and security from the Information Security Audit and Control Association. See ISACA. - Lethbridge RDTV - Red Deer CHCH - Hamilton CFCF - Montreal (70 percent owned by WIC) Montreal Ethnic Television Television Quatre Saisons 2. Other Assets WIC Entertainment Ltd. Western Broadcast Sales WIC's interest in RoBtv (30 percent WIC, 30 percent Cancom) Regional ALLNEWS Specialty Television Service Applications One Video on Demand License Artray Film and Video Allarcom Studio Studio Post and Transfer Apple Box Productions Certain Non-Competition Covenants Assets of WIC Acquired by Shaw 1. Radio CKNW - Vancouver CFMI - Vancouver QR77 - Calgary Power 107 FM - Calgary 630 CHED - Edmonton Power 92 - Edmonton CJOB / 68 - Winnipeg Power 97 - Winnipeg Q107 - Toronto Talk 640 - Toronto 900 CHML - Hamilton Y95 - Hamilton 2. Cancom 53.7 percent (WIC owned) 3. Viewers Choice Pay Per View (Western Canada) Superchannel Movie Max Family Channel (50 percent) Teletoon (40 percent Family Channel-owned) 4. Canadian Broadcast Sales (50 percent owned)
CONTACT: CanWest Global Communications Corp.
IH Asper, 204/956-2025
or
Shaw Communications Inc.
Jim Shaw, 403/750-4576
or
CanWest Global Communications Corp.
David Asper, 204/956-2025
or
John Cassaday, 905/780-7220
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