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

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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3 Comments

Mark Hamilton

Jul 9, 2009 at 6:57pm

It wasn't just the loss, it was the huge volume of Canwest shares that were traded today: more than 10 million.

sleepswithangels

Jul 10, 2009 at 2:44am

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

Nov 26, 2009 at 11:13pm

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.