Thank you so much.
Good morning, Madam Chair and committee members.
My name is Brad Shaw. I am executive chair and CEO of Shaw Communications. I am joined by Paul McAleese, our president, and Chima Nkemdirim, our vice-president of government relations.
We are pleased to be here today to discuss Shaw joining with Rogers to build a bright and bold future for Canada. In 1971, my dad staked his future on bringing a new cable TV service to a small community near where I was born—Sherwood Park, Alberta—so our neighbours could have real choice in what they watched on TV. I will just let you know that we did start with three channels when we launched our service, so we had a lot of choice there.
Since then, our customers have been the guiding force for our family, our board, and our dedicated team of employees. Our customers are also the guiding force behind the transaction we're talking about here today. Shaw has passionately provided Canadians with cable and satellite TV, phone, Internet and, more recently, wireless services. That passion has been backed by tens of billions of dollars of wireline and satellite investment over the past five decades, and over $7 billion of wireless investment over the past five years.
We are incredibly proud of what we have built and how we have connected Canadians. However, as we look ahead, we see our economy and country at a turning point. We need a new approach. We have to address the scale needed to build the networks of the future. In order for Canada to compete in the digital era, all Canadians, regardless of where they live, need connectivity that leads the world in coverage, resilience, and innovation. This is critical for economic and job growth, as well as for long-term access to the best and most affordable options for consumers and businesses.
Canada's future success depends on a forward-looking approach to connectivity. We need to bridge the digital divide to connect underserved rural and indigenous communities in the west, but we also need to build out a new 5G platform. This is an investment challenge of unprecedented scale. We cannot look backwards, as we might have worked in the past. As we look forward, it is clear that Shaw cannot build what Canada needs on our own. By joining forces with Rogers, I am confident that we can create something extraordinary for Canada.
Over the past several decades, Shaw and Rogers have built powerful cable networks using similar technologies in distinct geographies: Shaw in B.C., Alberta, Saskatchewan, Manitoba and northern Ontario; and Rogers in Ontario, New Brunswick and Newfoundland. Joining these networks through this [Technical difficulty—Editor] provider with the scale necessary to invest in the next generation of converged networks that we need for our future and Canada's future.
This transaction will drive higher levels of investment across the country, but especially in those parts [Technical difficulty—Editor] economically. Combining our companies' unique complement of wireline, satellite, wireless and Wi-Fi assets kick-starts the investment and innovation we need to accelerate and expand to reach 5G and other next-generation networks in the west.
On top of that, the transaction will combine two incredibly talented teams of people. Together, we will be able to compete more effectively and deliver so much more to Canadians than we could if we stayed apart. Competition will intensify, with Shaw and Rogers now able to leverage a national platform. In fact, in recent days, we have already seen certain of our competitors going to the capital markets to raise money to accelerate investment in broadband and 5G.
The entrepreneurial spirit that defines the west is firmly rooted in my family, and in our company's DNA. As we were considering this step, it was very important to me and my family that the combined company have a strong presence and commitment to the west and to Calgary. This commitment is [Technical difficulty—Editor] very early on in this process.
For over 50 years in this business, we have cherished every customer we've had. Combining with Rogers is the best path to ensure that my family's legacy continues to benefit our customers, our employees and communities for decades to come. Every Canadian will benefit from the better, broader and more competitive connectivity that our combined company can provide, especially in underserved communities.
Just as we are so proud of what our company employees have built, we are equally proud to join forces with Rogers. This is a natural, logical step forward for our company, our employees, our customers and our country as a whole. We cannot wait to start building for the future together.
Thank you.