I thought the rumors of a bailout would push Canwest's stock up. (Then, when I reported on it, Jahnny Kay could call me a "pro-Canwest activist".) But even the hint of a bailout isn't enough to move Canwest stock, even at a time when the market has been on a bit of a rebound. Today, it's still stuck at around 30 cents.
In Montreal, there's a rumour circulating that the Greenburg brothers, who own Astral Media., might make a move for the Gazette. That's precisely the type of local ownership that could save that great old title and reverse the decay of the post-Southam years.
Meanwhile, a US Congressman has come up with an idea I hadn't heard of: re-incorporate papers as non-profits, with generous tax breaks in return for non-partisanship. It's an intriguing idea for the business, once the de-leveraging process is finished.