Canwest considers sale of stations
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Hey there, time traveller!
This article was published 05/02/2009 (6401 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.
