In Canada’s largest ever media deal, CanWest Global Communications has finalised its $2 billion acquisition of Hollinger International’s Canadian newspaper and internet interests.
The deal with Conrad Black’s Hollinger and some of its affiliates will give CanWest 13 major metropolitan newspapers, among them The Ottawa Citizen and the Montreal Gazette, a 50% holding in the Canada-wide National Post and a further 126 local newspapers. Also included in the agreement are careerclick.com and carclick.com.
Commented CanWest’s president-ceo Leonard Asper: “Completion of this revolutionary and extraordinary transaction cements the largest ever media convergence deal and positions CanWest as the country's leader in content and advertising”.
News source: Advertising Age - International Daily