Tuesday, May 11, 2010

Godfrey to Acquire Canwest

Canwest Global Communications has approved a sales of its newspaper chain to Paul Godfrey, president of the National Post.  The plan is for the deal to close on July 15th, following bankruptcy court approval on May 15th.  All existing papers in the group are expected to remain in business.

Canwest publishes 12 daily newspapers and 45 community and free papers.  The dailies include the Vancouver Sun, Montreal Gazette, and Ottawa Citizen.

Canwest had applied for reorganization back in January 2010.

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