CanWest Global Communications
CanWest Global Communications 
|
|
|---|---|
| Corporate form | Corporation |
| Founded | 1974 |
| Dissolved | 2013 |
| Headquarters |
Winnipeg , Canada
|
| Group manager | Leonard Asper (CEO) |
| Products | Radio, publishing, television |
| sales | 2.61 billion CAN (2005) |
| Employee | 11,072 (2004) |
| Website | www.canwestglobal.com |
CanWest Global Communications ( TSX : CGS; NYSE : CWG) was an international media group from Canada and one of the largest in the country. He owned numerous newspapers, radio stations, and television stations in Canada, the United States , Australia , Great Britain, and New Zealand . The company was founded in 1974 by Izzy Asper and was headquartered in CanWest Global Place in Winnipeg .
Companies
The Global Television Network is an association of English-speaking television broadcasters that together serve 94% of Canada's population. Ten transmitters are connected. A second association, independent of the Global Television Network, was CH ; six television stations belong to it. It existed from 2001, took over the program from E! and therefore also operated under the name E !. CanWest also had eight special interest channels that could only be received via cable or digitally.
CanWest owned two Canadian radio stations in Kitchener and Winnipeg. Since taking over the Southam Group in 2000, CanWest has been the largest newspaper publisher in Canada and owned 13 daily newspapers. Other company divisions were television production, internet portals and video productions for mobile phones. In New Zealand and Australia, CanWest owned a total of five television channels and several radio stations in New Zealand and Great Britain.
Restructuring and sale
CanWest got into financial difficulties through various takeovers. Already in 2002 the profits were mostly used to pay interest on loans. In 2007 the company's bond papers were downgraded to junk status. In the spring of 2009 it became clear to those involved that the corporate liabilities were no longer manageable in the amount and also because of the global economic crisis of 2008/2009. In the years 2008 and 2009 the profit fell from 428 million to 197 million Can $.
On August 31, 2009, the company launched its television network E! a. Some channels have been sold to other smaller media companies. On September 24, 2009, CanWest announced the sale of its 51 percent stake in Australian media company Ten Network Holdings for approximately A $ 680 million. The company applied for bankruptcy protection on October 6, 2009, and the media group was to be restructured using the orderly insolvency procedure. CanWest employed around 1,700 people at that time.
In February 2010, the sale of the media division of CanWest Global Communication to the Canadian telecommunications company Shaw Communications was announced. The new owner continued to operate this sector under the name Shaw Media , since April 2016 it has been part of Corus Entertainment . The Canadian company Postmedia Network bought the publishing division . By the end of October 2010, CanWest had sold all of its assets. It was renamed 2737469 Canada Inc. and ceased operations at the same time. This successor company was dissolved on May 27, 2013.
Web links
- Canwest Global Communications Corporation (Canwest Global) Entry in the Canadian Encyclopedia , as of December 2013 (English)
- Canwest Global Communications Corp. Detailed information on the restructuring on the website of the consulting firm FTI (English)
- Canwest Corporate Structure ( April 1, 2012 memento on the Internet Archive ). Structure of the group at the time of dissolution on the CBC website, PDF file, 1.7 MB
Individual evidence
- ↑ Fact Sheet , CanWest ( Memento of the original from May 1, 2009 in the Internet Archive ) Info: The archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice. (accessed on March 14, 2010)
- ^ The Australian, August 2009 , accessed August 19, 2012
- ↑ Canwest Successfully Obtains Court Order for Creditor Protection ( Memento of the original from October 9, 2009 in the Internet Archive ) Info: The archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice. , CanWest Global Communications, October 6, 2009 (accessed March 14, 2010)
- ↑ CBC NEWS - Shaw moves for Canwest control, February 2010 , accessed August 19, 2012
- ^ Christine Dobby: Five things to know about the Corus-Shaw Media deal. The Globe and Mail , January 13, 2016, accessed June 16, 2016
- ^ Corus Entertainment Completes Acquisition of Shaw Media. Press release on the Corus website, April 1, 2016, accessed June 16, 2016
- ^ Canwest's restructuring plan successfully implemented. Business Wire , October 27, 2010, accessed June 16, 2016
- ↑ Federal Corporation Information - 273746-9 on the Government of Canada website. Retrieved June 16, 2016.
