Canwest selling its interest in Score Media

TORONTO – Canwest Global Communications’ subsidiary CW Media is selling its stake in Score Media Inc., parent company of The Score television network. The companies announced Tuesday that CW Media will participate in Score Media’s issuer bid and sign a “lock-up agreement” to sell just over 16.5 million of its Class A shares at $0.40 per share.Score Media will purchase up to 18 million of its Class A subordinate voting shares, or an aggregate amount of up to $7.2 million, for cancellation. If the offer is fully taken up, it will represent approximately 18% of Score Media's issued and outstanding...