Shaw Communications selling media division to Corus for $2.65 billion

CALGARY – Shaw Communications is selling its media division to Corus Entertainment for $2.65 billion.

Shaw Media includes the Global Television network and 19 specialty channels including HGTV Canada, Food Network Canada and Showcase.

Corus already owns a number of other specialty TV channels as well as a network of radio stations and the Nelvana animation studio.

Both companies are controlled by the Shaw family through its multiple-voting shares.