Creditor Group To Buy Canwest Newspapers For $1.1B

Law360, New York (May 11, 2010, 2:34 PM EDT) -- A group of noteholders has reached a deal with Canwest Global Communications Corp. to buy shares of Canada's conservative newspaper The National Post and other print and publishing products now in debtor protection for CA$1.1 billion ($1.08 billion).

The ad hoc group of senior subordinated noteholders, led by media executive and former politician Paul Godfrey, made the bid for the assets of Canwest LP, Canwest Global announced Monday.

The group would acquire essentially all of Canwest LP's financial and operating assets and shares of National Post...
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