Restructuring, downsizing continue at Look

TORONTO and MONTREAL – The wind down continues at Look Communications.After finalizing the sale of its spectrum and broadcast licence to Inukshuk Wireless Partnership in September, the company said in its year end results that it has cut its fulltime workforce from 64 in August, to 5 this month. Its remaining assets consist of the Milton facility and related infrastructure, which is still listed for sale; approximately $360 million of tax losses; and its present cash position of approximately $40 million. Look said that it has retained BMO Capital Markets to help consider Income Trusts and companies in the entertainment, information...