Wednesday, December 16, 2009

Judge rules in favour of Canwest in spat over specialty TV with Goldman Sachs

The Ontario court overseeing the restructuring of Canwest Global Communications Corp. ruled Tuesday in favour of the company and changes it made to the ownership structure of its prized specialty television assets. U.S. investment bank had Goldman Sachs had wanted the court to overturn a move by Canwest to shut down the numbered company that housed the specialty TV assets that both companies held a stake in. However, Ontario Superior Court Justice Sarah Pepall dismissed the request in a written decision released late Tuesday. The lucrative specialty channels, which include HGTV, Showcase and Diva, were acquired by the two companies from Alliance Atlantis in 2007 as part of a joint agreement.

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