Shaw 2013 Annual Report Download - page 18

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S
haw
C
ommunications Inc
.
MANA
G
EMENT’
S
DI
SCUSS
I
O
N AND ANALY
S
I
S
August
,
The
f
ollow
i
n
g
table sets
f
orth all o
f
the
Sp
ec
i
alt
y
serv
i
ces
i
nwh
i
ch the
C
om
p
an
y
holds an
in
te
r
est:
Sp
ec
i
alt
yS
erv
i
ces
Op
erated
%
E
q
u
i
t
y
Interes
t
S
howcase 100
%
S
l
ice
100%
History 100
%
H2
100%
HGTV Canad
a
6
7
%
F
ood
N
et
w
o
rk
Ca
n
ada
71
%
Actio
n
100%
Lifetime 100
%
Nat
i
onal
G
eo
g
ra
p
h
i
c
C
anada 5
0%
National Geographic Canada Wild 50
%
BB
CCa
n
ada
50%
T
wist TV 100
%
IF
CCa
n
ada
100%
DIY
6
7
%
DT
OUR
100%
M
o
v
ie
T
i
m
e
100%
DejaView 100
%
My
ster
y
100%
Global News: BC1 100
%
Specialty Services Not Operated % Equity Interes
t
Histori
a
50
%
Se
r
ies
+
50%
C
.
S
easonal
i
t
y
and other add
i
t
i
onal
i
n
f
ormat
i
on concern
i
n
g
the bus
i
ness
(
a
)S
easonal
i
t
y
and customer de
p
endenc
y
Although financial results of the Cable and Satellite business segments are generally not
subject to significant seasonal fluctuations, subscriber activity may fluctuate from one quarte
r
t
o another.
S
ubscr
i
ber act
i
v
i
t
y
ma
y
also be a
ff
ected b
y
com
p
et
i
t
i
on and var
yi
n
g
levels o
f
promotional activity undertaken by the Company. Shaw’s Cable and Satellite businesses
g
enerally are not dependent upon any single customer or upon a few customers.
The Media business segment financial results are subject to fluctuations throughout the yea
r
d
ue to, amon
g
other th
i
n
g
s, seasonal advert
i
s
i
n
g
and v
i
ew
i
n
gp
atterns. In
g
eneral, advert
i
s
i
n
g
revenues are higher during the fall, the first quarter, and lower during the summer months, th
e
f
ourth quarter. Expenses are incurred more evenly throughout the year. The Specialty service
s
are de
p
endent on a small number o
f
broadcast d
i
str
i
but
i
on undertak
i
n
g
s
(“
BDUs”
)f
o
r
d
i
st
ri
but
i
o
n
o
f
t
h
ese
rvi
ces.
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4