Radio & Television

CanWest spins 28% of newspapers (but not the Post) into income trust IPO, expecting $1.45 billion

WINNIPEG – As has been long rumored, CanWest Global Communications announced today it will offer an interest in its Canadian newspaper and interactive media businesses (with the exception of the National Post) via an initial public offering ("IPO") in Canada structured as an income fund. CanWest MediaWorks Income Fund (the "Fund") has filed a preliminary prospectus with all securities regulatory authorities in Canada. Total proceeds from the sale to CanWest MediaWorks Inc. are expected to be approximately $1.45 billion. The newly-created Fund will, on completion of the offering, indirectly hold through CanWest Mediaworks Limited Partnership (the "Partnership") an approximate 28%...