Leonard Asper steps down as Canwest president and CEO

CanWest News Service
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CanWest Global Communications Corp.'s president and CEO Leonard Asper resigned today as president and chief executive. Photo by The Canadian Press

Winnipeg -

Leonard Asper has resigned as the president and CEO of restructuring media company Canwest Global Communications.
Asper, the son of late Canwest (TSXV:CGS) founder Izzy Asper, says he's stepping down to avoid any potential conflict of interest as the company sells it assets under a massive restructuring process.
Canwest owns the Global TV network and a number of major Canadian daily newspapers including the National Post, the Montreal Gazette and the Ottawa Citizen.
The company has been operating under protection from creditors since last year after it ran into trouble paying down a massive $4-billion debt.
Calgary cable giant Shaw Communications (TSX:SJR.B) has struck a deal to take control of Canwest's TV and broadcasting assets and a number of suitors have come forward to bid separately for the newspapers.
Asper will continue on as a consultant to Canwest until the restructuring process has been completed.

Organizations: Canwest, National Post, Montreal Gazette Ottawa Citizen Shaw Communications TSX

Geographic location: Winnipeg, Calgary

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  • Save Local TV!
    July 02, 2010 - 13:24

    Clever! They are doing the same as Bell/Telus [Collectively Bellus ]. Bell [Against Save Local TV ] owns around 30% of all TV stations in Canada [CTV Globemedia and affiliates [Instigators of Save Local TV ], and the whole point was to blind the public to the truth of what Bell is trying to do - Screw Rogers. Bell wants pay-for-carriage because whilst they own CTV Globemedia, they won't be subjected to the tariff, however, Rogers et al [except Telus who rebrands Bell TV as Telus TV in Alberta and BC, because they are in a slow merge] will be subject to the tariff, and as a result 1, rates will go up, or 2 will drop channels due to pricing disputes [Please see: http://www.reuters.com/article/idUSTRE5BH2FX20091218 regarding TimeWarner dispute with FOX in the US.] which means that Bell will gain more of a market share, and screwing Rogers from their original business model.

    Not surprising as Bell is currently attempting and/or has completed multiple international takeovers, most notably BarbadosTel, and is gunning for AT&T {Who is actually SBC, a split from a later divestiture from AT&T and who is taking over all the former RBOCs to recreate market conditions prior to the divestiture in the 80's, aka MA BELL} [For which Bell Canada was apart of until the 1956 divestiture] and apparently, BritishTelecom [Explains the crappy service]. Seriously, watch out for Bell - They plan to take over the world, 1 company at a time.

  • Save Local TV!
    July 01, 2010 - 20:09

    Clever! They are doing the same as Bell/Telus [Collectively Bellus ]. Bell [Against Save Local TV ] owns around 30% of all TV stations in Canada [CTV Globemedia and affiliates [Instigators of Save Local TV ], and the whole point was to blind the public to the truth of what Bell is trying to do - Screw Rogers. Bell wants pay-for-carriage because whilst they own CTV Globemedia, they won't be subjected to the tariff, however, Rogers et al [except Telus who rebrands Bell TV as Telus TV in Alberta and BC, because they are in a slow merge] will be subject to the tariff, and as a result 1, rates will go up, or 2 will drop channels due to pricing disputes [Please see: http://www.reuters.com/article/idUSTRE5BH2FX20091218 regarding TimeWarner dispute with FOX in the US.] which means that Bell will gain more of a market share, and screwing Rogers from their original business model.

    Not surprising as Bell is currently attempting and/or has completed multiple international takeovers, most notably BarbadosTel, and is gunning for AT&T {Who is actually SBC, a split from a later divestiture from AT&T and who is taking over all the former RBOCs to recreate market conditions prior to the divestiture in the 80's, aka MA BELL} [For which Bell Canada was apart of until the 1956 divestiture] and apparently, BritishTelecom [Explains the crappy service]. Seriously, watch out for Bell - They plan to take over the world, 1 company at a time.