Shaw Gets Closer To Canwest Purchase for Canadian TV stations and specialty channels... February 19th 2010 11:09pm | Posted by: Michael Stevens, HNR Senior Editor An Ontario provincial court overseeing restructuring of Canwest Global has confirmed its approval of a takeover bid for the company by Shaw Communications. The investment still requires approval by several groups including Canwest creditors, the CRTC and US investment bank Goldman Sachs, a partner with Canwest on special channel assets. Shaw plans to own 20 per cent of Canwest's equity and 80 per cent of its voting stock, with Canwest remaining a standalone company. Shaw would acquire 11 local TV stations across Canada, as well as ownership of specialty channels Showcase, MovieTime and HGTV. Winnipeg-based Canwest owes billions of dollars to creditors, operating under court supervision since 2009... Source: VancouverFilm.Net In: National News |Visit the HNR Forums

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