Canada's Rogers Communications and Shaw Communications have announced plans to merge in a transaction valued at around $20.8 billion (CA$26 billion) and both companies pointed to 5G's growth and potential as the rationale. "The ability to scale and make 5G a reality for all Canadians and close the connectivity gap has never been more important," the companies wrote in their release. "As 5G redefines the innovation landscape, significant multibillion-dollar investments are needed to deliver the connectivity that our communities, consumers and businesses need, and our country deserves." The deal which the companies hope to close in the first half of next year would combine two family-owned telecommunications companies. The companies' release featured quotes from Shaw CEO Brad Shaw and Edward Rogers, chairman of Rogers Communications, and it also made several references to the "family-founded" nature of both companies.