Shaw 2011 Annual Report Download - page 18

Download and view the complete annual report

Please find page 18 of the 2011 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 149

  • 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
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143
  • 144
  • 145
  • 146
  • 147
  • 148
  • 149

Shaw Communications Inc.
MANAGEMENT’S DISCUSSION AND ANALYSIS
August 31, 2011
The following table sets forth all of the Specialty services in which the Company holds an
interest:
Specialty Services Operated % Equity Interest
Showcase 100%
Slice 100%
History Television 100%
HGTV Canada 67%
Food Network Canada 51%
Showcase Action 100%
Showcase Diva 100%
National Geographic Canada 50%
BBC Canada 50%
Twist TV 100%
IFC Canada 100%
DIY 67%
TVtropolis 67%
MovieTime 100%
DejaView 100%
Fox Sports World Canada 100%
Mystery 50%
Global Reality 100%
Specialty Services Not Operated % Equity Interest
Historia 50%
Series+ 50%
Dusk 49%
The Cave 49%
C. Seasonality and other additional information concerning the business
(a) Seasonality and customer dependency
Although financial results of the Cable and Satellite business segments are generally not
subject to significant seasonal fluctuations, subscriber activity may fluctuate from one quarter
to another. Subscriber activity may also be affected by competition and varying levels of
promotional activity undertaken by the Company. Shaw’s Cable and Satellite businesses
generally are not dependent upon any single customer or upon a few customers.
The Media business segment financial results are subject to fluctuations throughout the year
due to, among other things, seasonal advertising and viewing patterns. In general, advertising
revenues are higher during the fall, the first quarter, and lower during the summer months, the
fourth quarter. Expenses are incurred more evenly throughout the year. The Specialty Services
are dependent on a small number of broadcast distribution undertakings (“BDUs”) for
distribution of the services.
14