Canwest May Have a Buyer!
We’ve all been privy to the Canwest financial conundrum and have speculated on what their faith would be. Would they fold all together? Could they find a buyer for the whole suite? Or, our best guess - would they sell individual newspaper properties or small groups of entities? Well today we’ve learned that there was a group of investors preparing to put forth a bid to buy three of the Canwest Media newspapers. The newspapers in contemplation are The Gazette in Montreal, The Ottawa Citizen and The National Post. As the National Post is the flagship paper for Canwest, the group of three papers won’t be sold shoddily.
In total, Canwest has amassed 4 billion dollars in debt and selling their properties in a fragmented fashion may be the best thing for them.
Three down and only eight newspapers to go!
