Summary
"It probably wouldn't be a preference for Canwest to sell at this point," he said.
In an email to Canwest employees, CEO Leonard Asper said the new credit limit increases the need for cash and expense management across all of its operations "more than ever before.""Since (the mid-January announcement), there has been a further deterioration in the Canadian economy, including in the retail sector, which has negatively affected some of the company's business units beyond what was originally forecast, such that (Canwest Media) may not be able to comply with its quarterly financial leverage covenants for the second quarter," the company said.See the full content of this document
Extract
Canwest Tightening Its Belt
May put Aussie TV network back on block Selling off non-core assets to raise cash
Canwest Global Communications Corp. could put Australia's Ten television network back on the auction b...See the full content of this document
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