Monday, January 18, 2010

Bids for Canwest newspapers begin to take shape

Bidders have begun to emerge for Canada's biggest newspaper chain as its owner, Canwest Global Communications Corp., and its secured lenders look to sell off the unit or failing that, spin out the division into an independent public company.

Monday, a group led by former senator Jerry Grafstein went public with its interest in bidding for certain portions of Canwest Ltd. Partnership (LP), specifically, The Gazette in Montreal, The Ottawa Citizen and the National Post, which comprise the core assets of the chain in Eastern Canada.

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