Schurz Invests in Rural Broadband Supplier Canwest Global Communications' Newspaper Division Gets Gift of Time Tribune Making Payment on DIP Loan Pennsylvania Newspaper Association Appoints New Chair Former Boston Publisher Dies at 68 Joe the Plumber Hits Media Coverage, Tells 'E&P' He Hopes Palin Does Not Run in 2012 'E&P' on Twitter: Here's How to Hit the Tweet Spot! McClatchy Launches Digital Editions on the Kindle As 'NYT' Chicago Pages Debut, Local Papers Deliver 'Exclusives' EXCLUSIVE: Newspaper Sites' Time Spent Dropped in October UPDATE: AP Layoff Count Hits 90, Meets Goal 'Indy Star' Leads Fight for Lobbying-Laws Reform Ad Revenue Sees 13th Consecutive Quarter of Decline in Q3 NYT Co. Board Amends Bylaws to Ensure Transparency in Shareholder Nominations 40 Years Ago Today: Photos of My Lai First Appeared But Photographer Often Forgotten | This week's top stories

SAVE | EMAIL | PRINT | MOST POPULAR | RSS | REPRINTS

TORONTO Canwest Global Communications' newspaper division has been given
more time by its creditors to restructure its operations and repay debt.

The broadcaster said its subsidiary, CanWest Ltd. Partnership, which is in
default after it missed interest payments on senior secured credit
facilities, is in discussions with senior lenders on extending a forbearance
agreement that expired Nov. 9.

CanWest LP, which includes a string of national and community newspapers and online assets, is not part of a separate court-directed restructuring by Canwest Global unveiled on Oct. 6.

The Ontario Superior Court earlier approved the transfer of the National
Post from parent Canwest Global to CanWest LP to save the national newspaper from closure.

Canwest Global is expected to seek a buyer for its publishing assets, the
National Post included, in a bid to restructure a $4 billion debt load and
emerge from creditor protection by January.

-- Nielsen Business Media

SAVE | EMAIL | PRINT | MOST POPULAR | RSS | REPRINTS

SUBSCRIBE TO EDITOR & PUBLISHER »