Canwest limits borrowing, could sell off overseas assets

WINNIPEG – Canwest Media Inc. (CMI) may sell off "non-core operations and assets" - likely its Australian television operations and radio stations in Turkey – as it continues to search for ways to cut costs. The company also said that it has waived certain borrowing conditions and will limit its borrowing to $20 million, in excess of the approximately $92 million that has already been advanced, from its senior lenders through the end of February. The move follows Canwest’s announcement last month where it warned that it may not be able to comply with its existing quarterly total financial leverage...