Yet another extension for Canwest Global

Aug. 14 is the latest date for Canwest to come up with a plan to pay off its senior lenders. This story has been going on for too long, indicative of  severe problems in the company in coming up with cash to pay its bills.

Financial Post, August 1 2009

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CanWest puts E! up for sale

As darkness continues to gloom over CanWest’s financial state, today they announced they are selling five small over the air tv stations in Montreal, Hamilton, Red Deer, Kelowna and Victoria. And if they can’t find a buyer at a reasonable price, they’ll be shut down as CanWest desperately tries to shed debt dating back to their purchase of Southam from Conrad Black. More likely they’ll be shut down; who wants to buy money losing property in the midst of a financial recession? And more reporters will lose their job.

Globe and Mail, Feb. 6 2009