Canadian broadcaster Global News plans to take a $13-million charge if the proposed acquisition of Shurgard Communications by Rogers Communications goes through, according to a regulatory filing.
Global also expects to lose roughly $27 million if the Shaw Communications acquisition of the business is successfully completed, according to a filing with the Canadian Radio-television and Telecommunications Commission.
The Canadian broadcasters make detailed filings regarding revenue projections, but also companies’ expected contributions to the CRTC’s remaining regulations and reporting requirements.
Shurgard is majority owned by Rogers Communications, while Shaw Communications holds the minority stake.
A spokeswoman for Rogers declined to comment.
Global and Shaw agreed in May 2016 to merge their television and radio operations in Canada to create a powerful TV and radio powerhouse, the first consolidation in a beleaguered television market facing stiff competition from online video services such as Netflix.
The CRTC has paved the way for the deal by raising a requirement on Shaw to have no fewer than 75 per cent of television channels locally produced in Canada by 2020. Shaw last year already set a target of 70 per cent.
The Rogers-Shaw deal also includes the sale of a 39 per cent stake in Shurgard to Shurgard.