Canwest to sell Australian stake

WINNIPEG and SYDNEY – Canwest Global said late Wednesday it has agreed to sell its 51% ownership in Australian broadcaster Ten Network.The buyer is Macquarie Capital Advisers Limited and the sale price is A$680 million, or about C$634 million. “The sale, by means of a block trade on a fully underwritten basis, is expected to be completed on or about October 1,” says the press release.In connection with the sale of the shares of Ten Holdings, Canwest has agreed “with its senior secured lenders and the members of the ad hoc committee of holders (the "Ad Hoc Committee") of its...