S&P: Shaw unaffected

Standard & Poor's said the ratings on Shaw Communications Inc. (BBB-/stable) remain unaffected following the company's announcement that it has entered into an agreement with Canwest Global Communications Corp. and some 8% senior subordinated noteholders of Canwest Media Inc. to acquire a minimum 20% equity interest and 80% voting interest of Canwest. This voting interest includes effective control of a restructured Canwest.

The agency views Shaw's proposed investment to have a neutral-to-positive overall impact on the company's business risk profile. It said the assets, as restructured, include the second-largest conventional television network in Canada as well as a solid portfolio of specialty television assets.

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