Canwest cuts position in Aussie TV, and other updates

WINNIPEG - Canwest Global Communications announced Monday that its majority-owned Ten Network Holdings Limited has announced a fully underwritten equity offering of approximately A$138 million that will see the Canadian corporation cut its stake in the Australian TV company to 50%.“The equity offering represents approximately 13% of Ten Holdings current total shares on issue,” reads the press release. “It will be conducted by way of a placement of ordinary shares to professional and sophisticated investors, and eligible international investors. The equity offering will reduce Canwest’s ownership stake of Ten Holdings from approximately 57% to slightly more than 50%.”Ten Holdings intends...