Quote:
A Calgary-based communications giant will buy Canwest Global and pay off its creditors.
Shaw Communications which owns Shaw Cable and Starchoice Satellite TV service has arranged to buy a controlling stake in Winnipeg-based Canwest.
The deal would see Shaw own at least 20 per cent of Canwest's equity and 80 per cent of the voting stock.
Canwest owns the Global TV network, one of Canada's largest newspaper chains and several specialty cable channels.
However, Canwest owes billions of dollars to creditors and has been operating under court supervision since last year.
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Huge move for the cable provider. CanWest has a lot of messy situations that need clearing up, good luck to them on making the company profitable. They'll need it.
http://www.am770chqr.com/News/Local/...spx?ID=1195614
EDIT - Globe and Mail piece:
http://www.theglobeandmail.com/blogs...rticle1466197/