Shaw 2011 Annual Report Download - page 9

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Shaw Communications Inc.
MANAGEMENT’S DISCUSSION AND ANALYSIS
August 31, 2011
industry structure and stability, government regulation and the integration of recent
acquisitions. Many of these assumptions are confidential.
You should not place undue reliance on any forward-looking statements. Many factors,
including those not within Shaw’s control, may cause Shaw’s actual results to be materially
different from the views expressed or implied by such forward-looking statements, including,
but not limited to, general economic, market or business conditions; opportunities that may be
presented to and pursued by Shaw; Shaw’s ability to execute its strategic plans; changing
conditions in the entertainment, information and communications industries; industry trends;
changes in the competitive environment in the markets in which Shaw operates and from the
development of new markets for emerging technologies; changes in laws, regulations and
decisions by regulators that affect Shaw or the markets in which it operates in both Canada and
the United States; Shaw’s status as a holding company with separate operating subsidiaries;
and other factors described in this report under the heading “Known events, trends, risks and
uncertainties”. The foregoing is not an exhaustive list of all possible factors. Should one or
more of these risks materialize, or should assumptions underlying the forward-looking
statements prove incorrect, actual results may vary materially from those described herein.
The Corporation provides certain financial guidance for future performance as the Corporation
believes that certain investors, analysts and others utilize this and other forward-looking
information in order to assess the Company’s expected operational and financial performance
and as an indicator of its ability to service debt and return cash to shareholders. The Company’s
financial guidance may not be appropriate for this or other purposes.
Any forward-looking statement speaks only as of the date on which it was originally made and,
except as required by law, Shaw expressly disclaims any obligation or undertaking to
disseminate any updates or revisions to any forward-looking statement to reflect any change in
related assumptions, events, conditions or circumstances.
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