CANWEST ANNOUNCES $800M EXPANSION PLAN
By Adnews Staff
CanWest Global Communications of Winnipeg has announced details of its $800 million plan to expand and strengthen its Canadian operations through the acquisition of WIC Western International Communications Ltd., its nine television stations and other broadcasting and entertainment assets. Included in the deal, which is subject to the approval of the Canadian Radio-television and Telecommunications Commission, is CHAN-TV, CHEK-TV and CHBC-TV in British Columbia, CITV-TV, CICT-TV, CISA-TV and CKRD-TV in Alberta, CHCH-TV in Ontario and interest in CJNT-TV in Montreal. According to a report in the Globe and Mail, Leonard Asper, CanWest's president, told journalists at a news conference in Toronto although there is a CRTC policy that prohibits one broadcaster from holding two broadcast licences in any given market, CanWest will be asking the commission to waive that policy for this transaction. Completion of the WIC acquisition is expected by March 31, 2000.