CanWest taking out Income Fund for $495 million

TORONTO - CanWest Global is pulling the income trust it created less than two years ago to hold its newspapers and some other assets back into the fold. In legalspeak: "CanWest Global Communications Corp. and CanWest MediaWorks Income Fund announced today that the Fund has entered into a privatization agreement with CanWest MediaWorks Limited Partnership (the "Limited Partnership"), in which CanWest MediaWorks Inc. ("CanWest MediaWorks"), a wholly-owned subsidiary of CanWest, holds an approximate 74% interest and the Fund holds an approximate 26% indirect interest, pursuant to which each of the Fund's issued and outstanding units are to be redeemed for...