Canwest

Canwest

Canwest Global Communications Corporation, which operated under the corporate name Canwest, was a major Canadian media conglomerate based in Winnipeg, Manitoba, with its head offices at Canwest Place (now called 201 Portage). It held radio, television broadcasting, and publishing assets in several countries, primarily Canada. Canwest was founded in 1974 by Izzy Asper through the formation of CIII-TV in Toronto under the Global Television Network. The company expanded through the 1980s and 1990s, with the initial public offering in 1991 as a publicly traded corporation and the international expansion of its operations in Ireland, Australia, New Zealand, United Kingdom and Turkey. Throughout the years, under Leonard Asper, who became its president and CEO in 1999, Canwest grew into a major media powerhouse by acquiring media properties such as Western International Communications and the Southam newspaper publishing. In 2007, with Goldman Sachs, Canwest acquired the broadcasting arm of Alliance Atlantis. After years of debt, Canwest began to slowly collapse in 2008, amid the Great Recession, and later entered bankruptcy protection in late 2009, which led to its breakup the following year. Its publishing interests formed the nucleus of Postmedia Network, founded by National Post CEO Paul Godfrey, while its broadcasting interests were sold to Shaw Communications, which later reorganized its media division as Shaw Media. On April 1, 2016, the broadcasting assets were subsumed into Corus Entertainment, an existing broadcasting firm also owned by the Shaw family. Following the sale of assets, the company was renamed 2737469 Canada Inc., ceased to carry on business, and commenced bankruptcy proceedings under the Bankruptcy and Insolvency Act before finally being dissolved on May 27, 2013.

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Columbus Telegram.

Canwest

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