Canwest wins court shelter for Global TV, Post

[daleo]

A key part of the Canwest Global Communications Corp. media empire has been granted court protection from creditors.

The National Post newspaper and Global Television are included in the court filing by holding company Canwest Media Inc., the Winnipeg-based parent firm said Tuesday.

Canwest also announced progress in its plan to repay its $3.9-billion debt. Specifically, the plan involves holders of the Canwest Media's short-term debt, 70 per cent of whom have agreed to turn their debt into shares.

Global Television, MovieTime, DejaView, Fox Sports World and the company that operates the National Post are among the units included in the filing.

http://www.cbc.ca/money/story/2009/10/06/canwest-bankruptcy.html
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Such is the fate of newspapers that forget that they aren't party organs. I hope the Globe and Mail is paying attention.

[CHIMO]

1. Can

Murdoch be far away?

[daleo]

2. Technically, he shouldn't get a crack at this

Due to Canadian ownership laws. But there is a chance they will be amended for him or some other international right-wing media mogul. Still, I couldn't see Murdoch turning a profit on some version of the National Post either.

[CHIMO]

3. Well

Goldman Sachs controls most of it now.

Profit, power, who knows how things are done?