Corus Entertainment Completes Acquisition of Shaw Media

TORONTO, April 1, 2016 — (PRNewswire) — Corus Entertainment Inc. ("Corus") (TSX: CJR.B) announced today that it has completed its previously announced $2.65 billion acquisition (the "Acquisition") of Shaw Media Inc. ("Shaw Media").

Shaw Media's assets consist of 19 specialty channels, including Food Network Canada, HGTV Canada, Slice, Lifetime Canada, HISTORY®, Showcase, National Geographic Canada and BBC Canada; as well as Global's conventional stations in Vancouver, Okanagan, Edmonton, Calgary, Lethbridge, Saskatoon, Regina, Winnipeg, Toronto, Montreal, Halifax and Saint John.

This Acquisition more than doubles Corus' size, creating a combined portfolio of brands that encompass 45 specialty television services, including leading women and lifestyle, kids, family and general entertainment brands; 15 conventional television channels; 39 radio stations; a global content business; and a growing portfolio of digital assets.

"This is a landmark day for us," said Doug Murphy, President and Chief Executive Officer. "As a combined company, we are creating an integrated media and content powerhouse that gives us the competitive scale to grow both domestically and globally. With our strong media brands, compelling content and talented team, this transformational acquisition marks a new beginning that builds on our strengths and positions us well for future growth."

Today, Corus also unveiled a redesigned corporate brand, reflective of the bigger, bolder combined company and its promising future.

"The redesigned Corus logo represents the start of a new chapter for us. It's a powerful visual cue that the new Corus has arrived," said Mr. Murphy.

Mr. Murphy also announced his senior leadership team, which includes both Corus and Shaw Media executives:

Barbara Williams, Executive Vice President and Chief Operating Officer
Barbara Williams will oversee all strategic and operational aspects of generating audience growth and engagement across Corus' platforms, including Conventional, Specialty, Radio, Nelvana and Digital. She will also play a central role in the development of the company's growth strategies and ongoing transformation of the organization into a media and content powerhouse. Reporting to Barbara will be: Scott Dyer, Senior Vice President and President, Nelvana; Susan Schaefer, Senior Vice President, Brands and Marketing; John MacDonald, Senior Vice President, Women and Lifestyle Content; Daniel Eves, Senior Vice President, Kids and General Entertainment Content; Maria Hale, Senior Vice President, Global Entertainment and Acquisitions; and Troy Reeb, Senior Vice President, News, Radio and Station Operations.

Greg McLelland, Executive Vice President and Chief Revenue Officer
Greg McClelland will lead the domestic revenue components of the business – television, radio, national and local sales, branded content, digital and distribution sales. Greg will also be responsible for Corus' client insights research team, as well as the company's sales support and revenue management initiatives, with a concerted focus on next-generation advertising and analytics. Reporting to Greg will be: Gerry Mackrell, Senior Vice President, National Sales; Michael Searson, Vice President, Local Sales; Brett Pearson, Director, Digital Sales; Barb McKergow, Vice President, Client Marketing; Shawn Praskey, Vice President, Content Distribution; Tammy Baird, Vice President, Revenue Optimization; and Mark Leslie, Vice President, Research and Consumer Insights.

Colin Bohm – Executive Vice President, International Development and Corporate Strategy
Colin Bohm and his team will manage the company's business development and strategic planning activities as we advance our strategic priorities to own and control more content; engage our audiences; and expand into adjacent markets. In addition, his team will be tasked with developing global strategic partnerships and managing our mergers and acquisitions initiatives. Reporting to Colin will be Spencer Charters, Director, Strategy and Business Development, as well as a small team of analysts.

Tom Peddie – Executive Vice President and Chief Financial Officer
Tom Peddie will continue to oversee the company's corporate finance, tax, treasury and accounting functions, including investor relations activities. Tom will also be responsible for Corus' facilities and real estate. Tom's finance leadership team includes: Judy Adam, Vice President, Finance; Michael French, Vice President, Finance, Doug Sharpe, Vice President, Treasury; Jeremy Wilson, Vice President, Taxation; Chris Nalborczyk, Vice President, Internal Audit; Heidi Kucher, Manager, Investor Relations; and Julie Edwards, Vice President, Facilities and Administration.

Gary Maavara – Executive Vice President and General Counsel
Gary Maavara will oversee all aspects of Corus' legal matters, regulatory affairs and government relations.  Gary will also continue in his role as Corporate Secretary to the Board of Directors. Reporting to Gary will be: Dale Hancocks, Vice President, Operations and Associate General Counsel, Production and Outbound Licensing; Jane Harrison, Vice President and Associate General Counsel, Inbound Rights and Affiliate Agreements; Randy Witten, Vice President and Associate General Counsel, Corporate; Sylvie Courtemanche, Associate General Counsel, Vice President, Government Relations and Compliance; and Christopher Pang, Associate General Counsel.

Cheryl Fullerton – Executive Vice President, People and Communications
Cheryl Fullerton is responsible for the delivery of the people elements of Corus' business strategy through the attraction, alignment, development, engagement and rewarding of great talent. Cheryl will also oversee the Communications function for the company, which will be headed by Dervla Kelly, Vice President, Communications. Also reporting to Cheryl will be: Larry Burnett, Vice President, People; Bianca Williamson, Director, People; Penny Vlachos, Vice President, Compensation and Benefits; Annette Ainsbury, Director, Learning and Development; and Mike Couto, Head of Labour Relations.

Shawn Kelly, Executive Vice President, Technology
Shawn Kelly will lead Corus' technology strategy and direct infrastructure investments as well as manage the technology teams, delivery, systems and resources across the business. Reporting to Shawn will be: Eric Flaherty, Vice President, IT and Technology Delivery; Tara Eizerman, Director, Digital Technologies; Glen Pollock, Director, Production and Post Services; Jaime Caeiro, Director, Content Management and Delivery; Robert Ouellette, Vice President, Technology Systems; and Jeff Naphin, Vice President, Technology Planning and Strategy.

Kathleen McNair, Executive Vice President, Special Advisor to the CEO and Chief Integration Officer will continue to support Corus' integration activities, while Christine Shipton will exit her current role as Chief Content Officer, but has agreed to stay with Corus over the coming months to support the transition, ensuring effective integration of people, processes and teams.

"Corus and Shaw Media each have extraordinary talent across all levels, and we are confident that we have put in place a team and structure that will enable us to immediately advance our strategic priorities," said Mr. Murphy. "There remains much work to be done, but we have a plan in place and are moving quickly to integrate these two companies and realize the benefits of the combined organization.

"We would also like to thank the independent Special Committee of Corus, comprised of Fernand Bélisle, Mark Hollinger, Wendy Leaney and Terrance Royer , for their diligence and invaluable guidance throughout this entire process," said Mr. Murphy.

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