Canwest Completes Sale of its Score Media Inc. Holdings
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WINNIPEG--(Business Wire)--
Canwest Global Communications Corp. today announced that its subsidiary, CW
Media Inc. ("CW Media "), has received gross proceeds of approximately $6.6
million as a result of tendering its 16.6 million shares in an issuer bid by
Score Media Inc. ("SMI").
On March 2, 2009 Canwest and CW Media sold 9.0 million Class A Shares at $0.40
per share by way of private placement with gross proceeds of $1.6 million going
to Canwest and $2.0 million to CW Media. CW Media intends to now convert its
outstanding 4,434 Special Voting Shares of SMI into Class A Shares and sell them
in the open market.
About Canwest Global Communications Corp.
Canwest Global Communications Corp. (www.canwest.com), (TSX: CGS and CGS.A,) an
international media company, is Canada`s largest media company. In addition to
owning the Global Television Network, Canwest is Canada`s largest publisher of
English language daily newspapers and owns, operates and/or holds substantial
interests in conventional television, out-of-home advertising, specialty cable
channels, web sites, radio stations and networks in Canada, New Zealand,
Australia, Turkey, Indonesia, Singapore, the United Kingdom and the United
States.
Canwest Global Communications Corp.
Media:
John Douglas, 204-953-7737
Vice President, Public Affairs
jdouglas@canwest.com
or
Investors:
Hugh Harley, 204-953-7731
Director, Investor Relations
hharley@canwest.com
Copyright Business Wire 2009
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