An Ontario provincial court overseeing restructuring of Canwest Global has confirmed its approval of a takeover bid for the company by Shaw Communications. The investment still requires approval by several groups including Canwest creditors, the CRTC and US investment bank Goldman Sachs, a partner with Canwest on special channel assets.
Shaw plans to own 20 per cent of Canwest's equity and 80 per cent of its voting stock, with Canwest remaining a standalone company. Shaw would acquire 11 local TV stations across Canada, as well as ownership of specialty channels Showcase, MovieTime and HGTV.
Winnipeg-based Canwest owes billions of dollars to creditors, operating under court supervision since 2009...
Shaw plans to own 20 per cent of Canwest's equity and 80 per cent of its voting stock, with Canwest remaining a standalone company. Shaw would acquire 11 local TV stations across Canada, as well as ownership of specialty channels Showcase, MovieTime and HGTV.Winnipeg-based Canwest owes billions of dollars to creditors, operating under court supervision since 2009...
