CanWest Swings to Profit on TV3 Sale

WINNIPEG, November 3: CanWest Global Communications has
reported a fourth-quarter profit of C$155 million, compared with the C$106
million loss a year ago, after receiving C$164 million from the sale of TV3
Ireland.

Profit for the year, meanwhile, soared to C$179 million from
Q3 2005’s $10 million.

Revenues for the year fell 5 percent to C$2,879 million,
while for the quarter they fell 6 percent to C$655 million.

Commenting on the results, Leonard Asper, CanWest's
president and CEO, noted, "All our major operations faced difficult
advertising markets over the past year with adverse currency translation
contributing further to declines in results from the South Pacific. Markets now
appear to be stabilizing and we expect a firming of revenues and EBITDA in the
new fiscal year.”

He continued, “A strong start in the fall ratings is
tracking to improving revenues at our Canadian television operations and should
be reflected in EBITDA growth for the first quarter.”

Australia’s Network Ten contributed C$197 million to
CanWest's consolidated EBITDA, a 33-percent decline due in part to a slowdown
in the television advertising market. The Canadian television operations
experienced a 6 percent decline in revenues for fiscal 2006 to $656 million
from C$696 million.