Radio / Television News

Australian government approves CanWest’s TEN control

WINNIPEG - CanWest Global said today that Australia's Foreign Investment Review Board (FIRB) approved CanWest's request to exchange its ordinary shares and convertible debentures of The Ten Group for ordinary shares of Ten Network Holdings Limited (TEN). This follows CanWest's announcement on June 18 that it intended to exercise its right to exchange, subject to foreign ownership approvals. "We welcome FIRB's decision and expect to complete the exchange by the end of this month," said Leonard Asper, CanWest's president and CEO, in the press release. "Over the past 15 years, TEN has been an extremely successful investment for us and...