Shaw attempting to take over CanWest Global

[HotHotHeat]

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.

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/

[mykalberta]

Is there a precedence for this in Canada?

Comcast is in the process of buying NBC or already has?

[ken0042]

So, will this put to bed once and for all the "who pays for local TV" debate?

[underGRADFlame]

Originally Posted by ken0042

So, will this put to bed once and for all the "who pays for local TV" debate?

I was just thinking about that. Wonder if Shaw changes its tune after.

[GreenTeaFrapp]

Originally Posted by mykalberta

Is there a precedence for this in Canada?

Comcast is in the process of buying NBC or already has?

Like Bell owning CTV and the Globe & Mail?

[fredr123]

Not so much "attempting to take over" as "putting in a bid to purchase."

[Hemi-Cuda]

Originally Posted by underGRADFlame

I was just thinking about that. Wonder if Shaw changes its tune after.

not likely. the Shaw family are about as free-market as you can get. if something isn't strong enough to stay on TV by the strength of it's viewership alone, then it shouldn't be there

[getbak]

Originally Posted by mykalberta

Is there a precedence for this in Canada?

Comcast is in the process of buying NBC or already has?

Rogers owns City-TV plus a lot of magazines and radio stations.

Bell owned CTV and the Globe & Mail before their media holdings were spun-off into a separate company.

[Bunk]

This will be good for Calgary. Shaw being Calgary based and all to have control over a major media outlet. It will certainly be an employment driver in the city. Does this deal include many of can-west's papers too?

[Joborule]

Go Shaw! As long as you don't change your tune on the save local TV BS.

[Julio]

Interesting move back into direct broadcast ownership by Shaw seeing as how they spun off what is now Corus Entertainment back in 99 (although the Shaw family still controls Corus).

[kobafett]

Originally Posted by Bunk

This will be good for Calgary. Shaw being Calgary based and all to have control over a major media outlet. It will certainly be an employment driver in the city. Does this deal include many of can-west's papers too?

No, the papers are part of another Canwest company.

[Madman]

The courts have approved the Shaw takeover of CanWest.

http://www.calgarysun.com/news/canad...953346-cp.html

[OilKiller]

I can't stand Canwest as a company, think they are one of the worst and certainly not in business for the customer, but less companies out there in this industry can't really be a good thing for Canada. Not a fan of less voices in this business. Bell Globemedia already owns way too much and now this.

[NSFL]

Originally Posted by OilKiller

I can't stand Canwest as a company, think they are one of the worst and certainly not in business for the customer, but less companies out there in this industry can't really be a good thing for Canada. Not a fan of less voices in this business. Bell Globemedia already owns way too much and now this.

Maybe I'm just jaded, but I almost feel most businesses aren't.