CanWest Eyes U.S. Market After Hollinger Buy

Folio: The Magazine for Magazine Management, Sept, 2000 by Stacy Nicks

CanWest Global Communications Corp. is mulling over opportunities in the United States following its $3.5 billion acquisition early last month of a substantial part of Hollinger International Inc.'s Canadian metropolitan newspapers, magazines and Internet assets.

"CanWest has had an interest in broadening into publishing for some time now," says CanWest spokesman Geoffrey Elliot.

He adds that CanWest, which posted earnings of $146 million last year and EBITDA of $264 million, considers the acquisition a gateway for the U.S. expansion of its broadcast, print and Internet media holdings. The acquisition turns over to CanWest all of Hollinger's 85 trade and directory magazines, as well as its Canadian metro and community newspapers and Canadian-based Internet assets