Tuesday, October 6, 2009

Canwest Seeks Creditor Protection

Photo: Canwest has come to an agreement with its creditors that will see some of its business units enter bankruptcy protection. (Nathan Denette/Canadian Press)

From The CBC:

Canwest Global Communications Inc. announced Tuesday that some of its business units will file for creditor protection.

The media conglomerate has come to an agreement with a committee representing its lenders over a restructuring plan for the debt-laden company.

Under the agreement, Global Television, MovieTime, DejaView, Fox Sports World and the company that operates the National Post newspaper are among the units that will voluntarily file for creditor protection under the Companies' Creditors Arrangement Act.

Read more ....

Update: Canwest's holding company to file for protection -- Montreal Gazette

My Comment: Montreal is only served by one English paper. If it should go because of bankruptcy .... wow ....

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