CanWest Receives $26 million From Hollinger International
02 Dicembre 2004 - 6:17PM
PR Newswire (US)
CanWest Receives $26 million From Hollinger International Payment
associated with purchase of the National Post WINNIPEG, Dec. 2
/PRNewswire-FirstCall/ -- CanWest Global Communications Corp.
announced today that its wholly-owned subsidiary, The National Post
Company, has received payment of $26.4 million (Cdn.) from
Hollinger International Inc. as partial settlement of its claims
associated with the purchase of the National Post. CanWest had
previously initiated an action in the Ontario Superior Court in
December 2003 on account of agreements entered into when CanWest
acquired the remaining 50% of the National Post from Hollinger
International in April 2002. It obtained summary judgment in August
2004 for a portion of its claim. The payment represents
satisfaction in full of the amount of the summary judgment, plus
interests and costs. Certain other claims remain subject of
litigation. CanWest Global Communications Corp. (NYSE: CWG; TSX:
CGS.SV and CGS.NV, http://www.canwestglobal.com/), is an
international media company. CanWest is Canada's largest media
company. In addition to owning the Global Television Network,
CanWest is Canada's largest publisher of daily newspapers, and also
owns, operates and/or holds substantial interests in conventional
television, out-of-home advertising, specialty cable channels, Web
sites and radio networks in Canada, New Zealand, Australia and
Ireland. DATASOURCE: CanWest Global Communications Corp. CONTACT:
Geoffrey Elliot, Vice President, Corporate Affairs, (204) 956-2025,
(204) 947-9841 (fax),
Copyright