Report: Corus, Pattison Kicking CanWest Global Tires
January 12, 2010 at 7:40 AM (PT)
Radio group owners CORUS ENTERTAINMENT and JIM PATTISON GROUP are among four potential bidders for the TV assets of CANWEST GLOBAL COMMUNICATIONS CORP., the Canadian television and newspaper giant currently under bankruptcy protection, reports the GLOBE AND MAIL. The paper lists CORUS, PATTISON, FAIRFAX FINANCIAL HOLDINGS LTD., and SHAW COMMUNICATIONS as suitors for CANWEST GLOBAL, which owns the GLOBAL TV network and several of CANADA's largest newspapers. CORUS is reportedly only interested in CANWEST GLOBAL's cable networks.
CANWEST GLOBAL is looking for a $65 million investment as part of its restructuring, with RBC DOMINION SECURITIES INC. advising the company in the matter. The company is auctioning its newspaper assets, excluding the NATIONAL POST, in a separate proceeding.