Friday, February 19, 2010

Canwest ordered to assess new bid for television assets

An Ontario judge has ordered Canwest Global Communications Corp. to assess a rival offer for the broadcast giant despite Shaw Communications Inc.’s threat to walk away if its bid to control the television assets did not receive court approval Friday. Ontario Superior Court Justice Joanne Pepall instructed Canwest's court-appointed monitor to review a new $120-million proposal backed by Catalyst Capital Group Inc. and the Asper family and return to the court with a recommendation by the end of the day. Representatives from Canwest had convened late Friday afternoon and were expected to report back to the court within a couple of hours

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