Canwest Creditors Approve $1.1B Newspapers Sale

Law360, New York (June 14, 2010, 5:01 PM EDT) -- Creditors of Canwest Global Communications Corp. on Monday overwhelmingly approved a bid by noteholders to buy shares of Canada's conservative newspaper The National Post and other print and publishing products now in debtor protection for about $1.08 billion.

According to a statement by Canwest, 97 percent of its creditors representing 99 percent of the total claims against the hobbled media company voted in favor of the plan put forward by an ad hoc group of senior subordinated noteholders, led by media executive and former politician Paul...
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