Friday, October 30, 2009

The day Leonard Asper lost the Street

The chief executive officer of CanWest Global Communications Corp. had become impatient with his company’s eroding share price. In less than a year, stock in Canada’s largest media company, owner of the Global Television network, 13 daily newspapers and more than 20 cable channels, had fallen to less than $6. Asper was starting to take the slide personally. With good reason: The drop from nearly $12 the previous January had halved the value of the family’s controlling stake in the company.

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