Winnipeg Free Press - ONLINE EDITION

Canwest downfall began in 2008, Asper says

  • Print

Canwest Global Communications started to spiral in the fall of 2008 after the collapse of Lehman Brothers and other players in the U.S. financial sector and never recovered.

The advertising market fell through the floor shortly after but the company was always able to pay its debts, says Leonard Asper, former CEO of the now-defunct company.

Instead, it was creditors who invoked a clause to call in their loans after Canwest’s profits fell by more than the allowable limit, that ultimately did the company in.

Asper came by the Winnipeg Free Press News Café this morning to discuss the fall of the one-time media giant.


Updated on Wednesday, February 20, 2013 at 9:24 AM CST: Updated.

February 21, 2013 at 2:16 PM: Writethru.

Fact Check

Fact Check

Have you found an error, or know of something we’ve missed in one of our stories?
Please use the form below and let us know.

* Required
  • Please post the headline of the story or the title of the video with the error.

  • Please post exactly what was wrong with the story.

  • Please indicate your source for the correct information.

  • Yes


  • This will only be used to contact you if we have a question about your submission, it will not be used to identify you or be published.

  • Cancel

Having problems with the form?

Contact Us Directly
  • Print

The Winnipeg Free Press is not accepting comments on this story.


Make text: Larger | Smaller


Key of Bart: What’s Left Of A Spent Party’s Cabinet

View more like this

Photo Store Gallery

  • MIKE APORIUS/WINNIPEG FREE PRESS BUSINESS - cow on farm owned by cattle farmer Lloyd Buchanan near Argyle Wednesday afternoon -see Larry Kusch's story  January 04/2006
  • KEN GIGLIOTTI  WINNIPEG FREE PRESS / July 23 2009 - 090723 - Bart Kives story - Harry Lazarenko Annual River Bank Tour - receding water from summer rains and erosion  damage by flood  and ice  during spring flooding -  Red River , Lyndale Dr. damage to tree roots , river bank damage  , high water marks after 2009 Flood - POY

View More Gallery Photos


Will you miss the old Banana Boat building?

View Results

View Related Story

Ads by Google