CanWest intends to retain control of Australia's Ten Network

WINNIPEG – CanWest Global Communications Corp. announced Monday that it intends to maintain its 56% stake in Australia’s third largest television network, Ten. The Canadian broadcaster said in a statement it had “determined that it is in the best interests of its shareholders to hold a majority voting equity interest in the Ten group, and therefore, intends to exercise its right to exchange its ordinary shares and convertible debentures of Ten into ordinary shares of Ten Network Holdings Ltd. (TNH).” Trade in shares of Ten Network Holdings was halted in Sydney, Australia, on Monday, following reports that CanWest’s planned sale...