Q1 profits up 29% at Canwest

WINNIPEG – First quarter profits are up at debt-laden Canwest Global.For the three months ended November 30, 2009, Canwest reported operating profits increased 29% from $137 million last year to $176 million, excluding the $29 million gain from the reversal of the CRTC Part II fees.Revenue of $571 million was down 10% from $634 million for the same period in the previous year (revenue for the first quarter of fiscal 2009 included results of the defunct E! Network which it shuttered on August 31, 2009). Excluding these operations, revenue for first fiscal quarter of 2010 decreased by 6%.The company reported...