This looks like a non-starter and non-story: Reuter's Randal Palmer reports the government, at this time, has no plans to bail out the Aspers.
Meanwhile, ugly rumors circulate that the National Post could fold within days.
If memory serves, the rumors started in 2001. I don't think the Post will close anytime soon. It may be reconstructed, but at the core of it is the Financial Post, and I, for one, would love to own a piece of that.
I spent today among Parliamentary Press Gallery folks. You could cut the fear in the air into blocks and stack it. I've never seen anything like it.
Buyouts... layoffs... shortfalls... closures... management changes... it was all part of the grim wallpaper.
Canwest has been given eight business days -- until March 11 -- to come up with a plan to make its bankers happy.
There's a very interesting fact buried in this Reuters story. The bankers have killed the unused $188 million in Canwest's $300 million line of credit. In other words, it has to pay all its bills (including debt interest) from its own cash flow. It no longer has credit with the banks.
I'll be very interested to see what the Aspers consider to be "non-core assets" in the next few days.