CanWest buys time to March 11

CanWest’s various creditors have extended their deadline for payment/resolution of debt from Feb. 27 to March 11. CanWest says it has enough to continue during this period (it’s pretty grim when they have to confirm they can maintain existing operations for 12 days.) Not totally surprising; the creditors want their money and are usually pretty flexible when it comes to options like losing it all. However, I’m not sure what the extra time will buy; maybe they can swap the E channels for some magic beans.

Reuters, Feb. 27 2009

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