Thursday, February 19, 2015

Sun News Network received 11th-hour bid from Leonard Asper before it was shut down

The National Post's Theresa Tedesco writes:
"Hours before the lights went out for the final time last Friday at the Sun News Network, one man was making an 11th-hour bid to keep the struggling TV station from going dark.
"Leonard Asper, whose family built, and later lost, the Canwest Global Communications Corp. empire, had scrambled a last-ditch effort to buy the conservative all-news channel last week, sources confirmed to the Financial Post. That was less than 72 hours before its owner, Quebecor Media, officially pulled the plug on Sun Media Corp. on Feb. 13, putting its roughly 200 employees out of work.
"Mr. Asper, now the CEO of specialty channel operator Anthem Media Group Inc. which controls the Fight Network, the Fantasy Sports Network and the Pursuit Channel, was given access to a data room to review confidential information about Sun TV’s financial condition, after directly appealing to Pierre Dion, president and CEO of Quebecor. He spent time poring over Sun TV’s books on Feb. 9 and Feb. 10."
The whole story

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