Radio / Television News

Losses pile up at Canwest

WINNIPEG – Struggling Canwest Global Communications Corp. reported a net loss of $110 million for its third quarter, and a $1.58 billion net loss for the nine month period ended May 31, 2009.The losses include a non-cash $247 million impairment of goodwill in Canwest’s publishing operations, interest rate and foreign currency swap losses of $177 million, and foreign exchange gains of $368 million primarily related to the foreign currency gains associated with the $U.S. debt that is no longer hedged.Quarterly revenues were $727 million, compared to $846 million for the same period last year, while operating profit before restructuring and impairment...