Saturday, August 22, 2009

Canwest

Why no postings about Canada's most interesting media meltdown? It's not because friends at Canwest have been upset with my three-year-long analysis of the collapse of the company they work for.(Strange for journalists to engage in "Blame the Messenger", but there ya go). Nor was concerned about National Post-it editorial page editor Jonathan Kay's pathetic attempt to smear me last spring. (He suggested on his blog that I was biased against his company, so I was unfit to judge the National Newspaper Award beat category. By then, we three members of the judging panel had already unanimously decided on a winner, a writer with a Canwest paper who had earned the award through hard work and talent. Of course, I couldn't say that until after the prize was awarded.) Quite simply, very little has happened over the past few months. Canwest's debt has grown, the bondholders have brought in their own manager, and soon the debt will be turned to shareholder equity, which means the Aspers will be out. All of this has (finally) become interesting to Canada's media-shy business press. So when something big happens, I'll do a full analysis.

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