After several months of expert predictions that CanWest was preparing to give up its investments in Australasian media, a report from CanWest’s home country today suggests just the opposite.
The Globe & Mail says CanWest, with its new and “deep-pocketed” equity partner Goldman Sachs, is keen to increase its stake in Australia’s Channel 10 network.
CanWest also owns New Zealand’s TV3 and C4 television channels and RadioWorks broadcast group.
Until Goldman Sachs appeared on the scene, experts had predicted CanWest would need to sell assets in the South Pacific to fund its takeover of specialty TV network Alliance Atlantis. But the New York-based investment bank will pay most of the C$2.3 billion acquisition cost.