CanWest Explores Options for Network Ten

WINNIPEG, October 20: CanWest Global Communications Corp.
has retained Citigroup Global Markets to explore the possibility of offloading
its interest in Network Ten in Australia, in the wake of the country’s newly
liberalized media ownership laws.

“CanWest has retained Citigroup to explore opportunities for
the company in that evolving environment to ensure that the interests of the
company's shareholders are enhanced,” the Canadian media company said in a
statement today.

CanWest owns a 56.4-percent stake in Network Ten, which also
operates Eye Corp., TEN's wholly owned out-of-home advertising subsidiary. The
sale of that stake could generate about $1.7 billion for CanWest, wire reports
indicate. In the region, CanWest also owns 70 percent of CanWest MediaWorks
(NZ) Ltd, a television and radio broadcasting subsidiary in New Zealand.