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B.C. publisher David Black makes play for Canwest newspapers

Leonard Asper resigns as CEO from Canwest Global Communications

By Travis Lupick,

Victoria’s David Black could soon become Canada’s biggest newspaper baron.

According to a March 4 Globe and Mail report, Black is making a play for Canwest Limited Partnership’s 46 newspapers, which include the National Post, the Vancouver Sun, the Province, the Ottawa Citizen, and the Montreal Gazette.

Black’s Black Press already controls 22 newspapers in the Lower Mainland, including the WestEnder, the North Shore Outlook, the Richmond Review, and the Leader papers in Burnaby, New Westminster, and Surrey-North Delta.

This news came on the heels of Leonard Asper, Canwest Global Communication Corp.’s chief executive officer, announcing his resignation from the media empire that was founded by his late father, Izzy Asper.

The official explanation for Asper’s resignation is to avoid the appearance of a conflict of interest in Canwest’s restructuring process. However, a Toronto Star report suggests that the move is more about Asper regaining control of the debt-laden media empire and holding on to Canwest Global’s television assets, which includes the Global Television network.

For years, Canwest Global has been staggering under the weight of an estimated $4 billion debt. And since October 6, the Winnipeg-based company has been operating under protection from its creditors.

The deadline to submit bids for Canwest Global’s print assets—controlled by Canwest LP—is tomorrow (March 5).

Black—no relation to Conrad Black—is reported to be one of half a dozen potential bidders for Canwest LP.


You can follow Travis Lupick on Twitter at twitter.com/tlupick.


Comments

Strategis
For years, the Aspers have been running their newpaper and media empire into the ground by using it as a tool of sinister propaganda, instead of running it as a professional news and media business with the aim of serving the public interest. A diverse, free and professionally run independent press is a cornerstone of democracy, and if David Black takes over the monopolistic Canwest empire in the context of Canada's unregulated "anything goes" legal regime, the tragic condition in Canadian media and democracy will persist that much longer.

The majority of Canadians now consider the corporate media as a heavily biased and unreliable source of information on contemporary affairs, and are therefore increasingly turning to more independent and varied, and also more detailed and better supported information on the internet.
 
Rampel
Can't wait till the overpaid reporters at the Sun and Province and Victoria Times Colonist welcome Black as the new owner. Get ready for everyone making over $25K to be laid off, to be replaced by interns and volunteers. Go David!
 
 
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