(Winnipeg - July 13, 2010) Canwest Global Communications Corp. (“Canwest” or the “Company”) announced today that its subsidiaries Canwest (Canada) Inc., Canwest Limited Partnership / Canwest Societe en Commandite and certain of their subsidiaries (collectively, the “LP Entities”) have successfully implemented their amended plan of compromise and arrangement under the Companies' Creditors Arrangement Act (Canada) (the “CCAA”) as previously approved by the Ontario Superior Court of Justice ( Commercial List ) on June 18,2010 and consequently their newspaper and digital media businesses have emerged from creditor protection under the ownership of a newly incorporated company - Postmedia Network Inc.
Today’s announcement relates only to Canwest’s newspaper and online digital media businesses. The stay period granted to the LP Entities under CCAA remains in place and has been extended to December 31, 2010.
Canwest, Canwest Media Inc. and certain of its subsidiaries, which operate the Company’s conventional and specialty television broadcasting businesses, are the subject of a separate CCAA restructuring process.
More information about the LP Entities’ restructuring process can be found at www.canwest.com and on the Monitor’s website at http://cfcanada.fticonsulting.com/clp
About Canwest Global Communications Corp.
Canwest Global Communications Corp. (www.canwest.com), (TSX-V: CGS and CGS.A) is one of Canada’s largest broadcasting companies. In addition to owning the Global Television Network, operating 19 industry-leading specialty channels and having ownership in 5 specialty channels and more than 20 online properties.
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For further information:
Media Contact:
John Douglas, Senior Vice President, Public Affairs
Tel: (204) 953-7737
jdouglas@canwest.com
Investor Contact:
Hugh Harley, Director, Investor Relations
Tel: (204) 953-7731
hharley@canwest.com
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