Thursday, June 17, 2010

Media union mulls over challenge to Canwest newspaper sale

Canada’s largest media union is considering to challenge the sale of Canwest Global Communications’ newspaper assets to group of debt holders. "We believe this sale will require a review under the Investment Canada Act," said Peter Murdoch, vice-president, media, for the Communications, Energy and Paperworkers Union of Canada. Buyers, led by National Post publisher Paul Godfrey, agreed to purchase the Canwest basket of newspapers titles, including the Vancouver Sun, the Ottawa Citizen, the Montreal Gazette and the National Post, for $1.1 billion. But the ad hoc group of buyers is made up of mostly U.S.-based bondholders, the union said. "Parliament should be acting now to ensure these newspapers remain under Canadian control and ownership,” Murdoch said.

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