Shaw family buys bigger stake in Shaw Communications Inc.

10 November 2004

The Shaw family have bought an additional 750,000 class-B non-voting shares in Shaw Communications Inc., the cable television provider said yesterday.
The shares, worth about $16 million, were picked up last week and raises the Shaw family’s stake in the company through stock it either owns or controls to 20,759,556 shares, or about 10 percent of outstanding shares.
The Shaw family also advised the company it would continue its practice of buying shares on the open market.
Shaw is Canada’s second-largest cable company after Rogers Communications Inc. (TSX:RCI.B).
Shaw also offers Internet and satellite direct-to-home services.
The Calgary company’s shares (TSX:SJR.B) fell 24 cents to $21.50 in trading yesterday on the Toronto Stock Exchange.

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