CanWest, Canada's Largest News Media Company Collapses

 

 

 

 

 

Investors lost $8 billion

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Leonard Asper Is The Media Heir

 

 

 

 

 

 

 

 

 

 

 

CanWest Goes Bankrupt

Canadian news titan Canwest Global Communications Corp. filed for bankruptcy protection on Tuesday as it tries to restructure a mountain of debt. "Entering into this agreement and implementing a court supervised and consensual recapitalization plan represents the best alternative for the long-term interests of the (Canwest) entities, its approximately 1,700 employees, suppliers, customers and other stakeholders," the company said. 7

Canwest, controlled by Winnipeg's Asper family, has been in talks for months with creditors who are owed some 3.75 billion US dollars.
   

 

 

 

 

 

CanWest's Excuse

They bought 100 Canadian daily and community papers for 3.2 billion Canadian dollars from fellow Zionist Conrad Black.(3.0 billion US). In 2007, Canwest expanded its television holdings by partnering with a Goldman Sachs affiliate to purchase speciality television group Alliance Atlantis Communications for 2.3 billion Canadian dollars (2.2 billion US).  8

 

   

 

 

 

 

Canucks Are Angry

They brought their gold coins to Goldman Sachs and got some paper stock certificates.

Stock Loss: ------------------$ 8 billion

Bonds Defaulted On: ---------$ 2 billion

Creditors Defaulted On:-------$3.7 billion
   

 

 

 

 

 

The Union's Position

CanWest's employees lost their pensions, and severance pay. And they will be offered their old jobs back with a 40%  salary cut. 7 It's union, 'Communication and Paper Worker Union, is a Zio-piggy bank. 9  The executive staff feeds off a membership of 160,000.

 

   

 

 

 

 

 

 

 

 

So Who Has The Gold Coins?

Isn't it odd the way the Aspers paid out $5 billion to Conrad Black, and Atlantis Communications, at the height of the mania. I have to believe that the Aspers got out of their stock before the collapse. Rough figures show the Canuck public lost over $20 billion dollars.

And as far as the bankruptcy goes, all that means is the creditors, and employees, got stiffed, and the Aspers are still in control.

Money doesn't disappear, it just changes hands.
 

 

 

 

 

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