Shaw 2012 Annual Report Download - page 33

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Shaw Communications Inc.
MANAGEMENT’S DISCUSSION AND ANALYSIS
August 31, 2012
Corus Entertainment Inc. (“Corus”)
The Company and Corus are subject to common voting control. During the year, network,
advertising and programming fees were paid to various Corus subsidiaries. The Company provided
cable system distribution access, administrative services, uplinking of television signals and
Internet services and lease of circuits to various Corus subsidiaries. In addition, the Company
provided Corus with television advertising spots in return for radio and television advertising.
Burrard Landing Lot 2 Holdings Partnership
The Company has a 33.33% interest in the Partnership. During the current year, the Company
paid the Partnership for lease of office space in Shaw Tower. Shaw Tower, located in
Vancouver, BC, is the Company’s headquarters for its lower mainland operations.
Specialty Channels
The Company has interests in a number of specialty television channels which are either
subject to joint control or significant influence, including Historia, Series+ and ABC Spark.
During the current year the Company paid network fees and provided uplink of television signals
to these channels.
Key management personnel
Key management personnel consist of the Board of Directors and the most senior executive
team that have the authority and responsibility for directing and controlling the activities of the
Company. In addition to compensation provided to key management personnel for services
rendered, the Company transacts with companies related to certain board members primarily for
the purchase of remote control units and agency services for direct sales and related installation
of equipment.
H. New accounting standards
Shaw has adopted or will adopt a number of new accounting policies as a result of recent
changes in IFRS as issued by the IASB. The ensuing discussion provides additional information
as to the date that Shaw is or was required to adopt the new standards, the methods of
adoption permitted by the standards, the method chosen by Shaw, and the effect on the
financial statements as a result of adopting the new policy. The adoption or future adoption of
these accounting policies has not and is not expected to result in changes to the Company’s
current business practices.
The following policies were adopted in fiscal 2012:
International Financial Reporting Standards
In February 2008, the CICA Accounting Standards Board confirmed that Canadian publicly
accountable enterprises are required to adopt IFRS as issued by the IASB for fiscal periods
beginning on or after January 1, 2011. The Company’s date of transition to IFRS is
September 1, 2010 and its date of adoption is September 1, 2011.
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