CanWest talks bogged down by revival of Australian TV fortunes
"CanWest Global Communications Corp.'s efforts to restructure its debt have come up against a series of glitches in the past few weeks that are delaying a deal with bondholders.
At the top of that list may be the most unlikely of culprits - a television show called MasterChef Australia.
The popular cooking program has been a major hit on Australian television this year, peaking at 4.1 million viewers, and is one of several shows causing CanWest's Australian TV network, TEN, to steal audience share from its rivals.
That has translated into gains on the Australian stock market."
"Shares in TEN have nearly doubled since February, bringing the value of CanWest's 50.1-per-cent stake to about $600-million, as analysts predict the network could be well positioned if the economy improves."
AND
"While the money is a far cry from the $1-billion the Canadian media company thought it could fetch a few years ago, those involved in the restructuring know that they must give a sale serious consideration now."
Full story: http://www.theglobeandmail.com/repo...val-of-australian-tv-fortunes/article1267707/
"CanWest Global Communications Corp.'s efforts to restructure its debt have come up against a series of glitches in the past few weeks that are delaying a deal with bondholders.
At the top of that list may be the most unlikely of culprits - a television show called MasterChef Australia.
The popular cooking program has been a major hit on Australian television this year, peaking at 4.1 million viewers, and is one of several shows causing CanWest's Australian TV network, TEN, to steal audience share from its rivals.
That has translated into gains on the Australian stock market."
"Shares in TEN have nearly doubled since February, bringing the value of CanWest's 50.1-per-cent stake to about $600-million, as analysts predict the network could be well positioned if the economy improves."
AND
"While the money is a far cry from the $1-billion the Canadian media company thought it could fetch a few years ago, those involved in the restructuring know that they must give a sale serious consideration now."
Full story: http://www.theglobeandmail.com/repo...val-of-australian-tv-fortunes/article1267707/