CanWest Global CEO Leonard Asper says the cause of the profit declines at Canada's major TV networks is a regulatory system that has allowed cable companies to get rich while network television erodes. The bad economy and debt are making the problem worse, but they are not the culprit, he told a CRTC hearing.
“The current economic downturn did not cause our structural problems. The operating results for all broadcasters began to decline during a healthy economy,” Asper said.
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