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Latest Canwest Global Communications Corp. Stories

2009-05-21 07:48:55

Bondholders came to the rescue of Canada's CanWest Global Communications Corp. with a $175 million three-month bailout package, sources said. Sources close to the negotiations in Calgary, Alberta, Wednesday night told the Globe and Mail a June 15 deadline was struck for the newspaper and television group to have a restructuring plan in place that would effectively put bondholders in control and shut out other shareholders. CanWest missed a $30.4-million interest payment on its bonds earlier...

2009-04-30 11:19:45

The parent company of Canada's National Post newspaper said it will skip publishing nine Monday editions during the summer to save money. The announcement was made Wednesday by the CanWest Global Communications Corp., The Globe and Mail reported. The news couldn't be found on the Post's Web site. Staff was told the first Monday off would be July 6 and run through Sept. 14, which is 10 weeks, but includes Labor Day, when the Post doesn't publish. CanWest said Mondays in summer have the lowest...

2009-04-15 06:22:38

Bondholders for Canada's largest media company, Canwest Global Communications Corp., gave the company another week to make a $30.4 million interest payment. After missing a payment to bondholders March 15, the company had a Tuesday deadline to come through, The Globe and Mail reported. The newspaper publisher and broadcaster is in two sets of talks -- one with lending banks and also with bondholders, who have secondary access to the funds after the banks. The Globe quoted sources as saying...

2009-03-10 13:35:00

WASHINGTON, March 10 /PRNewswire/ -- Canwest Global Communications Corp. ("Canwest") announced yesterday that it has sold THE NEW REPUBLIC to a group of private investors and Martin Peretz. "We are grateful to Canwest for its partnership," said Peretz, the magazine's long-time editor-in-chief. "I am confident that with this new ownership we have a strong financial future and editorial direction. I believe that we can continue to build on this institution's proud history even through these...

2009-02-28 16:51:37

The Canadian media group Canwest Global Communications Corp. says it has been given a short extension to negotiate new terms for a key line of credit. With the potential for bankruptcy hanging overhead, Canwest said Friday the Bank of Nova Scotia has extended its negotiation deadline to March 11, The Globe and Mail reported in Toronto. The bank cut Canwest's credit line from $300 million to $112 million because of concerns about the company's $3.9 billion debt load. CanWest had used nearly...


Word of the Day
barratry
  • The offense of persistently instigating lawsuits, typically groundless ones.
  • An unlawful breach of duty on the part of a ship's master or crew resulting in injury to the ship's owner.
  • Sale or purchase of positions in church or state.
This word ultimately comes from the Old French word 'barater,' to cheat.
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