Shaw posts detriment on devaluation of the Corus stake

Shaw Communications Inc. says it mislaid $91 million in a third quarter, essentially associated to a $284-million spoil assign associated to a interest in Corus Entertainment Inc.

The Calgary-based cable, internet and wireless association pronounced a detriment amounted to 18 cents per share, that contrasted with a year-earlier distinction of $133 million, or 27 cents per share.

Shaw acquired a interest in Corus in 2016 when it sole Shaw Media for money and batch valued during $2.65 billion.

Corus batch sealed nearby an all-time low on Wednesday after it announced a division cut and took a $1-billion spoil assign on a radio assets.

Shaw says a core business operations generated $1.3 billion of income in a entertain finished May 31, adult from $1.22 billion a year earlier.

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Article source: https://www.cbc.ca/news/canada/calgary/shaw-q3-loss-1.4726107?cmp=rss