Canadian newspaper monopoly bought from Hollinger for 2.2 billion US, sold for 1 billion CDN to Paul Godfrey is an insider trade

Why weren't the newspapers sold with debt? A fair sale could have
saved CanWest shareholders
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Had only recently sold 25% ownership in these flagship newspapers into
a income trust for 500 million (and had 3 billion in debt attached/
unloaded into trust). [As the income trust IPO funds raised all went
to pay off a loan to a major CanWest shareholder, fishy; CanWest
therefore had to buy back the IPO by borrowing it all back at 13.5%
compounding, payable when this debt reaches nearly a billion, also a
fishy loan. It is ironic then, this means that CanWest bought back
their Canadian newspaper trust, only to sell all of it at the cost
equal, to the cost of paying back the loan needed to buy back 25%
owned by the the newspaper trust.]

bought for
In 2000, "TORONTO CanWest Global Communications Corp. is buying 13
large metropolitan daily newspapers and a 50 percent stake in the
National Post from Hollinger Inc. as part of a $1.8 billion deal.
Under the cash-and-stock transaction announced Monday, Winnipeg- based
CanWest will also assume responsibility for about $460 million in
debt, bringing the deal's total value to $2.2 billion [US]."


sold for
"Paul Godfrey, the CEO of the National Post newspaper, has lined up
buy out funds to acquire Canwest Global’s daily newspapers nationwide
for around CAN $1 billion, the Globe and Mail newspaper reported
Friday."


"TORONTO -- Canwest Global Communications Corp. today announced the
appointment of Paul Godfrey to the position of President and CEO,
National Post, effective [2009.]"


"Paul is a great addition to our team," said Dennis Skulsky President
and CEO Canwest Publishing. "Having served on the Canwest Board of
Directors since 2004, Paul knows our business very well[.]"
[Non arms length transaction. Canada's newspaper monopoly retained by
the same faction involved in news racketeering.]