Canwest

CanWest Global Communications ( TSX: CGS; NYSE: CWG ) is an international media company in Canada and one of the largest in the country. He owns numerous newspapers, radio stations and television stations in Canada, the United States, Australia, United Kingdom and New Zealand. The founded by Izzy Asper 1974 Group headquarters are located in Winnipeg.

Business

The Global Television Network is an association of English-language television stations that reach together 94 % of the population of Canada. They are joined by ten stations. A second, independent of Global Television Network composite is CH; it includes six television stations. In addition, CanWest has eight themed channels, which can be received via cable or digital only.

CanWest owns two Canadian radio stations in Kitchener and Winnipeg. Since the takeover of the Southam group in 2000 CanWest is the largest newspaper publisher in Canada and owns 13 days newspapers. Other fields are television production, Internet portals and video productions for mobile phones. In New Zealand and Australia CanWest owns a total of five television stations and several radio stations in New Zealand and the UK.

The company filed for bankruptcy on October 6, 2009 bankruptcy protection, with the parent insolvency proceedings the media group to be restructured. CanWest has approximately 1,700 employees (as of October 2009).

Restructuring and sale

CanWest came through various acquisitions in financial difficulties. Already in 2002, was largely settled with the profits interest rates on loans. In 2007, the bond papers of the company were downgraded to junk status. In the spring of 2009, the parties understood that the corporate liabilities were no longer manage in height and also due to the global economic crisis in 2008/2009. In the years 2008 and 2009, the profit of 428 million fell to 197 million Can $.

On 31 August 2009 the company presented its television network E! one. Some stations were sold to other smaller media companies. On 24 September 2009 the company announced the sale of its 51 % stake in the Australian media company Ten Network Holdings for 680 million Australian dollars.

In February 2010, the sale of the media division of CanWest Global Communication to the Canadian telecommunications company Shaw Communications was announced. Shaw Media took over the complete range of CanWest media and operates it under Shaw Media. The Division Publishing bought the Canadian company Postmedia Network.

Sources

Radio: CJZZ | CKBT

Media companies (Canada)
Winnipeg

The Gazette (Montreal) The Province The Vancouver Sun Times-Colonist CFRE-DT CFSK-DT

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