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Straight Talk

July 9, 2009

Canwest shares take a beating, closing at six-and-a-half cents

By Charlie Smith

A Canadian media giant was humbled by investors today (July 9).

Shares in Canwest Global Communications Corp. plunged 53.57 percent to close at six-and-a-half cents on the Toronto Stock Exchange.

Canwest owns the Global TV network, daily newspapers in several Canadian cities--including the Vancouver Sun and Province in Vancouver--as well as the National Post and a string of community papers.

Tomorrow (July 10), Canwest executives, including CEO Leonard Asper, will hold a conference call with market analysts.

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Mark Hamilton
Thu, 2009-07-09 17:57
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It wasn't just the loss, it was the huge volume of Canwest shares that were traded today: more than 10 million.
 
sleepswithangels
Fri, 2009-07-10 01:44
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I considered buying at around .30 just a few weeks ago knowing there was a better than 3 to 4 in 1 chance that it could rebound to $2-$6.......or, more than likely, become worthless....just like the legacy they have created undermining democracy by hiding truths and telling lies.
SMBs
 
Stryder
Thu, 2009-11-26 23:13
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I am just so excited I think I just shit myself. Can we dare dream that maybe we will end up with a bit more fair and balenced news coverage in BC after the imminent Canwest bankruptcy. The only way things could get worse than the present situation, is that Mr. Harper will get away with changing the regulations for foreign ownership of media, and Rupert Murdoch somehow gets control of Canwest. Nightmare scenario.
 
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