Canwest delays again: Asper says recapitalization efforts "will go on throughout the summer"

WINNIPEG – An agreement in principle on the recapitalization of Canwest Global Communications was due today, but in keeping with recent history, yet another dollar deadline has been moved. The company said today that it is continuing discussions with the members of an ad hoc committee (the “Ad Hoc Committee”) of 8% noteholders of CMI regarding a recapitalization transaction. Last month's announcement of a $175 million investment said an agreement in principle was supposed to be done today.This follows months of deadline extensions for the company on financial covenant conditions violations and missed interest payments to bond holders “The holders...