Shaw 2010 Annual Report Download - page 85

Download and view the complete annual report

Please find page 85 of the 2010 Shaw annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 126

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126

2. BUSINESS ACQUISITIONS
Cash
(1)
$
Issuance of Class B
Non-Voting Shares
$
Total
purchase
price
$
2010
(i) Cable system 163,875 120,000 283,875
(1) The cash consideration paid, net of cash acquired of $5,070, was $158,805.
Cash
purchase
price
$
2009
(ii) Cable system 46,300
A summary of net assets acquired on cable business acquisitions, accounted for as purchases, is as
follows:
2010
$
2009
$
Identifiable net assets acquired at assigned fair values
Investments 206 –
Property, plant and equipment 57,796 6,825
Broadcast rights [note 8] 245,000 40,075
Goodwill, not deductible for tax [note 8] 81,032 –
384,034 46,900
Working capital deficiency 27,397 600
Future income taxes 72,762 –
100,159 600
Purchase price 283,875 46,300
(i) During 2010, the Company purchased all of the outstanding shares of Mountain Cablevision in Hamilton,
Ontario. The cable system serves approximately 41,000 basic subscribers and results of operations have
been included commencing November 1, 2009.
(ii) During 2009, the Company purchased the assets comprising the Campbell River cable system in British
Columbia which serves approximately 12,000 basic subscribers. The acquisition was effective
February 1, 2009 and results of operations have been included from that date.
81
Shaw Communications Inc.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
August 31, 2010, 2009 and 2008
[all amounts in thousands of Canadian dollars except share and per share amounts]