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Short Take: Shaw to buy Fundy Communications

Shaw Communications, a Canadian cable operator, has agreed to acquire Canada's Fundy Communications for C$460 million. Fundy serves 192,000 cable TV subscribers primarily in the New Brunswick area. Shaw, which has about 1.5 million subscribers, also will acquire a 3,200-kilometer fiber network as part of the deal. Shaw will issue C$150 million in Class B shares to partially fund the deal.