The Globe and Mail reports in its Thursday edition that with Shaw Communications moving into wireless services and an exit from its media business, the value of content to the telcos is once again up for debate. The Globe's Christine Dobby writes that during the past decade, Rogers, BCE and Shaw acquired both specialty channels and conventional television networks. The belief was that vertically integrated players would be better able to control content costs. However, that advantage diminished owing to regulatory rules -- tightened to prevent vertically integrated players from withholding content from their distribution-only competitors -- and the rise of over-the-top streaming video services such as Netflix. Greg MacDonald at Macquarie Capital Markets praised Shaw's move toward becoming a "pure-play broadband company," writing, "We see no value in vertical integration of content and conduit, and have a bear thesis on media over all." Scotia Capital's Jeff Fan argued in a report this week it is "time to rethink vertical integration advantages," noting the need to consider "whether the [vertically integrated] structure can be sustained as the industry in Canada evolves over the next few years."