Canwest to keep dailies going during bankruptcy protection
Posted January 8, 2010 3:57 pm.
This article is more than 5 years old.
VANCOUVER (NEWS1130) – The future of the Vancouver Sun and Province is unclear now that the Canwest Global chain is under bankruptcy protection and up for sale.
Today was the “drop dead” day for Canwest to pay a billion dollars to its creditors, so the country’s biggest media company filed for bankruptcy protection. The dailies and a number of community papers, plus the National Post are up for sale.
An auction begins next week, but Sun and Province promotions Vice-President Jamie Pitblado says the papers are not being combined into one, saying ‘there is room in the market for two papers.’ “We are anticipating and moving forward that both newspapers, both the Vancouver Sun and the Province will be publishing for the foreseeable future.”
A lawyer for the bank says if a superior offer doesn’t emerge within seven or eight weeks, the big five banks will take control of the papers.
