CanWest retains Citigroup to explore opportunities in South Pacific
21 10월 2006 - 1:45AM
PR Newswire (US)
WINNIPEG, Oct. 20 /PRNewswire-FirstCall/ -- CanWest Global
Communications Corp. announced today that, through certain
wholly-owned subsidiaries, it has retained Citigroup Global Markets
Inc. to explore opportunities arising out of the new Australian
media ownership law passed this month by the Australian Parliament.
The new legislation is expected to take effect early in 2007. The
new media law, which removes media-industry specific foreign
ownership restrictions and significantly relaxes cross-ownership
rules affecting broadcasting and publishing media, is widely
expected to precipitate a substantial re-alignment of media
ownership in Australia. CanWest has retained Citigroup to explore
opportunities for the Company in that evolving environment to
ensure that the interests of the Company's shareholders are
enhanced. Citigroup will examine a range of possible scenarios that
might affect CanWest's 56.4% economic interest in Network TEN, one
of Australia's three major television networks, Eye Corp., TEN's
wholly-owned out-of-home advertising subsidiary, and CanWest
MediaWorks (NZ) Ltd, CanWest's 70%-owned television and radio
broadcasting subsidiary in New Zealand. No decisions have been
taken with respect to possible outcomes, which include continuation
of the status quo. This news release contains certain comments or
forward-looking statements that are based largely upon the
Company's current expectations and are subject to certain risks,
trends and uncertainties. These factors could cause actual future
performance to vary materially from current expectations. The
Company disclaims any intention or obligation to update any
forward-looking statement even if new information becomes available
as a result of future events or for any other reason. CanWest
Global Communications Corp., (CanWest) (NYSE: CWG; TSX: CGS and
CGS.A, http://www.canwestglobal.com/). CanWest, an international
media company, is Canada's largest media company. CanWest is
Canada's largest publisher of daily newspapers, and also owns,
operates and/or holds substantial interests in conventional
television, out-of-home advertising, specialty cable channels, Web
sites and radio stations and networks in Canada, New Zealand,
Australia, Singapore, Indonesia, Malaysia, Turkey, the United
States and the United Kingdom. DATASOURCE: CanWest Global
Communications Corp. CONTACT: Geoffrey Elliot, Vice President,
Corporate Affairs, Tel: (204) 956-2025, Fax: (204) 947-9841,
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