Canwest Global Communications Corporation, which operated under the corporate name Canwest, was a major Canadian media conglomerate based in Winnipeg, Manitoba, with its head offices at Canwest Place. It held radio, television broadcasting, and publishing assets in several countries, primarily in Canada.
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|Formerly||Canwest Global Communications Corporation|
|Type||Public (CGS and CGS.A on the TSX Venture Exchange)|
|Defunct||October 27, 2010 (operations)|
May 27, 2013 (dissolution)
|Successor||Shaw Media (broadcasting) and Postmedia Network (publishing spin-off)|
|Headquarters||201 Portage Avenue,|
|Canada, Australia, New Zealand, Ireland, United Kingdom, Turkey|
|Derek H. Burney|
(Chairman of the Board)
|Revenue||C$ 2.867 billion (2009)|
|C$ 197 million (2009)|
|C$ −1.689 billion (2009)|
|Total assets||C$ 3.876 billion (1Q 2010)|
|Total equity||C$ −449 million (1Q 2010)|
Number of employees
|12,072 (May 2009)|
|Footnotes / references|
Canwest was founded in 1974 by Izzy Asper through the formation of CIII-TV in Toronto under the Global Television Network. The company expanded through the 1980s and 1990s, with the initial public offering in 1991 as a publicly-traded corporation and the international expansion of its operations in Ireland, Australia, New Zealand, United Kingdom and Turkey. Throughout the years, under Leonard Asper, who became its President and CEO in 1999, Canwest grew into a major media powerhouse by acquiring media properties such as Western International Communications and the Southam newspaper publishing. In 2007, with Goldman Sachs, Canwest acquired the broadcasting arm of Alliance Atlantis.
After years of debt, Canwest began to slowly collapse in 2008, amid the Great Recession and later entered bankruptcy protection in late 2009, which led to the sales of its publishing and broadcasting arms the following year to Postmedia Network, founded by National Post CEO Paul Godfrey and Shaw Communications, which later reorganized its media division as Shaw Media. On April 1, 2016, the broadcasting assets were subsumed into Corus Entertainment, an existing broadcasting firm also owned by the Shaw family.
Following the sale of assets, the company was renamed 2737469 Canada Inc., ceased to carry on business, and commenced bankruptcy proceedings under the Bankruptcy and Insolvency Act before finally being dissolved on May 27, 2013.