May 24, 2020

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Canwest considers sale of stations

Hey there, time traveller!
This article was published 5/2/2009 (4126 days ago), so information in it may no longer be current.

Canwest Global Communications Corp (TSX:CGS) says it is exploring the sale of five conventional television stations in Montreal, Hamilton, Red Deer, Alta., Kelowna, B.C. and Victoria.

The company says it has hired RBC Capital Markets to help the company review strategic options for its conventional television stations. The outlets are CJNT-TV in Montreal, CHCH-TV in Hamilton, CHCA-TV in Red Deer, CHBC-TV in Kelowna and CHEK-TV in Victoria.

Canwest president and CEO Leonard Asper says the stations are not core to Canwest’s Global TV operations or specialty channels going forward.

Conventional broadcasters face tougher times because of the recession and have been squeezed by a slump in advertising and increased competition from specialty channels.

Canwest owns a string of big-city dailies from Victoria to Montreal and operates the Global Television Network and other businesses in Canada and abroad.

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