Canwest takes whopping $1 billion write down

14 Nov 2008

Canadian publisher and broadcaster Canwest Global has taken a whopping $1.01-billion write down on its Canadian television operations, citing dire expectations for advertising revenues to come. The loss reversed a year-earlier profit of $197 million.

Stripping out the impact of the write down and other charges, Canwest reported an adjusted loss of $38 million in the quarter, actually

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Brian Blum

Brian Blum covers the U.S., Canada and Israel for Classified Intelligence Report, and contributes to our special reports and research projects. Originally from San Francisco and now based in Jerusalem, he has been with the AIM Group since 2004. He is the president of Blum Interactive Media, specializing in writing and multimedia content development for online, print, video and audio. His clients include newspapers, universities and non-profits. He is currently working on a book about the billion-dollar bankruptcy of a once high-flying Israeli startup.