Canwest Mulls Offloading Select Stations

WINNIPEG: Canwest Global Communications Corp has retained RBC Capital Markets to assist in the possible sale of five of its TV stations, including CJNT-TV in Montreal, so that it can focus on its flagship Global brand as well as its specialty networks.

The stations in question—CJNT-TV in Montreal, CHCH-TV in Hamilton, CHCA-TV in Red Deer, CHBC-TV in Kelowna and CHEK-TV in Victoria—carry Canwest’s second over-the-air network, E!. With the brand and select content licensed from Comcast International Media Group, E! in Canada delivers entertainment and celebrity fare, news and regional programming on the former CH stations. In a statement today, Canwest said that operating a second conventional TV network in Canada "is no longer key to the long-term success of our broadcasting business."

"These stations have proud histories of serving their communities with strong independent voices," said Leonard Asper, the president and CEO of Canwest. "However, as they are currently configured, these stations are not core to our television operations going forward."

Asper continued: "In the current economic environment, we believe that our efforts are best focused on the areas of greatest return including the continued growth of our industry-leading specialty channels and in increasing the linkages between those channels and our powerful Global conventional television brand. We believe this process will lead to significantly enhanced shareholder value."