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Left-wing Asper family could lose control of CanWest.


CofCC.org News Team

More info on CanWest deterioration.

CanWest has taken a writedown on the value of it’s newspaper assets. From $2.8 Billion, to $1.6 Billion. A staggering loss on top of nearly $4 Billion in debt and loss of over $1 Billion last quarter. Stock has plummeted to $.40 from a $15 high in 2005.

CanWest was founded by left-wing politician Israel Asper and is currently run by his three children. The media empire, which dominates Canadian news, is notorious for mandating a far-left bias in all it’s assets.

There is talk today of an end of an era of Asper dominated news. Canada’s second largest media conglomerate, CTVglobemedia Inc., is also facing hard times. However some CTVglobemedia Inc. newspapers appear openly gleeful over CanWest’s sorry state.

Some are speculating the end of the Apser’s as Canada’s dominant media family. CEO & President David Asper is currently trying to amass $100 million to purchase the Winnepeg Blue Bombers, a community owned professional football team. The move is seen by some as an attempt by David Asper to secure future income for after the media empire has collapsed.