? 1.1 billion bid - 150 million (unsecured .45 on the dollar equity offer) = 700 million Morgan loan + 250 million debt (can be coverted to shares)

Question. What did the other shareholders pay for their equity in Canada's newspaper disclosure monopoly?
~~~~~~~~~~~~~~~~~~~~~~~~
Note. Not .45 cents on the dollar for the unsecured less and less, the more shares given the rest of the new shareholders. The .45 on the dollar in equity is arbitrary, in that this value is equal to the unsecured shares total, compared to total shares outstanding shares -- big difference if unsecured own half the shares outstanding, or 10 percent of shares outstanding. [Canwest shareholders could easily have offered a better deal to the unsecured.]

Note. Bribes & kick backs. Canwest should not be able to decide who buys Canada's media propaganda machine -- Canwest directing who controls the message. What's the new shareholders of Canada's newspapers, side deal with Canwest's main shareholders? Reported as nothing.

Note. If more funds than 950 million, than funds belong to unsecured. If investing more than the 950 million in loans attached to the newspapers, these proceeds above 950 million go to the unsecured. Question. How much are the news shareholders contributing?

Note. CCAA filing has not reduced the debt for newspapers, as after CCAA filing and before IPO, a new debt will be attached to newspapers, and the proceeds given as a disbursement. Canwest's New Zealand IPO trick. The unsecured Canwest debt, and other Canadian newspaper shareholders, to recieve funds after CCAA filing, before IPO.

Canwest balance sheet is not in complaince with FAB 160, CICA 1601 and CICA 1602

Shaw paid 700 million for Goldman Sachs' 400 million investment
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Quote, "CICA 1601 and 1602 will require a change in the measurement of
non-controlling interest and will require the change to be presented as part ofshareholders equity. These standards will become effective for business combinations for which the acquisition date is on or after the beginning of the first annual reporting period on or after January 1, 2011.

IPO crisis in Canada when crap propectuses sell out fast

Buyers to sell into an IPO with even more debt added, ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Quote, "Canadian ownership requirements will be met through investments from TD Asset Management and Invesco Trimark."

"The owners expect to capture a return on their investment as the economic recovery brings back advertising revenue, cost cutting, a push into digital media, as well as a public share offering that may come as early as this summer."

http://www.thestar.com/business/article/808038--new-canwest-owners-share-sun-connection

Golden Tree had Canwest miss interest payments, to buy Canwest bond cheap.

Canada's newspaper disclosure monopoly bought in a fraud
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Golden Tree's purchase of Canwest bonds at a discount was cordinated with Canwest and Scotia Bank. Created the default to massivley reduce the bond prices. This fraud now controls Canada's newspapers.

Canwest newspapers profitable

Canwest shareholders newspapers making an operating profit of almost a million ever two days, yet Canwest shareholders voluntarilly filed the CCAA filing.
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Quote, "CanWest publishes 12 daily newspapers, most of which dominate their local markets, along with the National Post, which gives the chain its presence in Toronto. If the economy continues to rebound, analysts project these papers will churn out $200-million of earnings before interest, taxes, depreciation and amortization (or EBITDA) next year."

Unsecured newspaper lenders reward is Canada's newspapers, default scam

Scam that the stock horse bid, offered the unsecured zero cents on the dollar. Purpose was to seperate the unsecured from the stock horse auction, so the unsecured could steal the show at the last minute. Fraud against Canada.

Canwest unsecured lenders get Canwest's Canada newspaper disclosure monopoly, as their end
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
http://www.thestar.com/business/article/803713

Scotia line of credit of 75 million returned, so Scotia Bank leading the CCAA, yet is only owed what?

Canwest confirms that Canadian Banks amoung the 200 banks owed funds. Canada's banks are owed very little. Canada's newspapers not disclosing extactly what is owed to Canada's banks from Canwest newspapers.

SEC Canada okays FairFax to bid for Canada's newspapers

SEC Canada apologizes to Fairfax and welcomes Fairfax, David Black winning bid to buy Canada's newspapers in a separate company from Torstar balance sheet.

Concerning the JP Morgan financing costs, to cost the newspapers nearly a million week in extra interest costs. And Revenue Canada again can not tax the interest payments on foreign loans.

Canwest outsources Winnipeg call centre; 300 jobs lost

http://www.thestar.com/business/article/808785--canwest-outsources-winnipeg-call-centre-300-jobs-lost
Quote, "WINNIPEG—Canwest Publishing is laying off about 300 workers at its call centre in downtown Winnipeg and outsourcing the jobs to the Dominican Republic."

http://www.e-laws.gov.on.ca/html/statutes/english/elaws_statutes_90b16_e.htm



http://www.canlii.org/eliisa/search.do?language=en&searchTitle=Search+all+CanLII+Databases&searchPage=eliisa%2FmainPageSearch.vm&text=canwest&id=&startDate=&endDate=&legislation=legislation&caselaw=courts&boardTribunal=tribunals

Insider information

Canada's newspapers sold with no consideratin that the newspapers mold Canadians understanding of Canada and the economy
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
"The winning bidders, led by Canadian media executive Paul Godfrey, figured the assets had a better upside. Using a $700-million loan supplied mostly by JPMorgan Chase & Co., the unsecured creditors and Mr. Godfrey submitted their knockout bid at the last minute."

Joke that Torstar and Fairfax only offered 800 million

Question why was Torstar's bid if only 800 million, seen as second place, while the auction bid is 950 million to start
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
http://www.theglobeandmail.com/globe-investor/debt-was-the-killer-in-torstars-bid/article1565494/

Quote, "Fairfax, which was bankrolling Torstar’s bid, figured a higher offer than $800-million would have put too much debt on the newspaper business, making it difficult to be profitable in the long run, according to a source close to the bid."

SEC Canada vetos sale of Canada's newspapers: Canadian national security

Newspaper rackeetering not to report the discount sales of Canwest debt
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

http://www.theglobeandmail.com/report-on-business/goldentree-driving-force-in-canwest-reorganization/article1565505/

Quote, "When CanWest Global Communications Corp. started defaulting on debt related to its newspaper operations last year, the company soon came up against GoldenTree Asset Management.

The New York-based fund specializes in distressed assets and it quickly became a driving force behind CanWest’s reorganization, which culminated in a proposed sale of the newspaper division this week to a group that includes GoldenTree.

For months last year, court filings show GoldenTree bought up a majority of more than $300-million (U.S.) worth of notes issued by CanWest and then pulled together a committee of creditors to press their case. The fund waged fierce battles over everything from the hiring of lawyers and financial advisers to the ultimate sale process for the papers, court filings show.

None of this aggressive posturing should have surprised CanWest."

Comments on JP Morgan financing Canada's newspapers, lots of misinformation in comments

Fake posters support sale
http://www.theglobeandmail.com/globe-investor/markets/streetwise/meet-canwests-new-owners/article1564919/

"I'm glad that TorStar didn't get the grubby hands on CanWest. I'm a little worried over the involvement of the TD though. " [More misinformation in comments, TD Bank not involved. TD Bank could lend all the funds if need be.]

saying that 1.1 billion price is 5.5 times earnings is a joke, as sale price is 950 million

Again, cover story of Canada's Banks buying newspaper an excuss for selling Canada's brain
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
http://www.thestar.com/business/companies/canwest/article/808033--canwest-sees-future-in-digital-content
Quote, "Its senior secured creditors, a group of Canadian banks, were willing to settle for $950 million, the amount they were owed.
The winning bid came from a group of unsecured creditors, who offered $1.1 billion. That values the company at 5.5 times earnings before interest taxes depreciation and amortization, analysts said. That’s below the industry average leaving the owners room to enjoy some upside.
Godfrey squelched speculation the new owners would recover some of their costs by selling off some of the newspapers. “Absolutely not,” he said.
CanWest’s papers have long histories in their communities and are generally well-respected, said Chris Waddell, associate professor and director of Carleton University’s School of Journalism. That could give them an advantage online, he said, providing they invest in local content and a distinct identity."

Canda's newspaper disclosure monopoly financing not Canadian

Canada's banks buying the newspapers a cover story
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Quote, "The born-again chain of newspapers held by CanWest Global Communications Corp will emerge from bankruptcy protection with Wall Street heavyweights as their owners, but still laden with debt.CanWest's Canadian lenders have left the scene, and U.S. giants JPMorgan."

Surely, Canwest can offer the newspaper's 421 million unsecured notes a better equity deal

Canwest not selling newspapers after all. Izzy's newspaper company saved, with last minute, superior equity offer to the newspaper's unsecured notes. Canwest has the right to unfile the voluntary CCAA filing
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Correction: Newspaper debt is 950 million secured debt and 421 million 9% US unsecured notes. Important numbers, as the sale of the newspapers has the unsecured 421 million notes, ordered to take equity of .45 cents on the dollar. Surely, Canwest shareholders can offer the newspaper's 421 million unsecured notes a better ownership percentage of the newspapers, than Paul Godfrey's crappy equity offer!

All Onex and Paul Godfrey doing, are refinancing the secured debt at 950 million and offering 150 million in equity to the 421 million unsecured notes, and saying this makes the deal 1.1 billion. Surely, Canwest can offer the newspaper's 421 million unsecured notes a superior investment.

Note, Shaw's double announcement. Shaw buying Goldman Sachs' interest in CW Media Holding Limited. And, Shaw making it's first offer for Canwest's TV assets. Shaw offering to honour all of Canwest's main company's debt, for all of Canwest's TV assets, without compensation to Canwest shareholders; deal not acceptable. As if Shaw can tell a public company, we'll pay off your debt, and your assets are ours without compensation. Shaw should offer 200 million in Shaw shares to Canwest for starters.

Huge concern that Onex part of Canwest's newspaper racketeering

Onex mantaining control of Canada's newspaper disclosure monopoly
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
[Onex founder also a founder of Canwest. Onex helped develop Canwest lending scam to embezzle Canwest shareholder funds, having Canwest borrow abroad at high interest rates, and buy long term money-losing currency-swaps.]


http://www.thestar.com/business/companies/canwest/article/782078--canwest-chase-over-for-godfrey-consortium

Quote, "The group that included Paul Godfrey, president and chief executive officer of the National Post, is no longer in the running to buy the company that owns that newspaper, a source close to the sale process has confirmed." Whatever.

U.S. fund manager Golden Tree Asset Management, who intend to make their money back by selling the company in an initial public offering this summer.

Newspapers to be sold quickly into an IPO rip off. Why couldn't Canwest sell again the newspapers into an IPO?

While Godfrey is the front man, the mystery financial muscle could be Golden Tree Asset Management,

http://www.torontolife.com/daily/informer/mediaocracy/2010/05/11/canwest-roulette-paul-godfrey-bets-1-1-billion-on-newspapers-spins-the-wheel/

What financing has Paul Godfrey lined up?

High interest, non Canadian loans, with currency swaps.

Canada's flagship newspapers sold in a fraud, have no right to rig Canada's elections, and manipulate economic disclosure to steal from Canada.]

Winning bid over 950 million is to offer unsecured 421 million 9% note holders .45 cents on the dollar in equity in the new company. How is this the winning bid to offer equity above 950 million. Canwest shareholders could do that.


Now when the newspaper misrepresents the political process, is fraud, as newspapers bought in a fraud.

http://www.thestar.com/business/article/807558

http://www.theglobeandmail.com/globe-investor/godfrey-wins-backers-for-buyout-of-canwest-papers/article1308908/ before CCAA filing Godfrey bid - insider, this is fraud

new buyer offers unsecured 9% newspaper bonds, shares in the newspaper company

Canwest shareholders also offering unsecured 9% bond holders share in company: Canwest offering a better deal than Godfrey offer of .45 cents on the dollar in new equity
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
[Canada's flagship newspapers sold in a fraud, have no right to rig Canada's elections, and manipulate economic disclosure to steal from Canada.]

Quote, "The AHC Bid contemplates the acquisition of substantially all of the financial and operating assets of the LP Entities and the shares of National Post Inc. for an effective purchase price of approximately $1.1 billion including $950 million in cash funding. The proceeds from the AHC Bid will allow for a full pay-out of the approximately $925 million debt owed by the LP Entities to its senior secured lenders. The bid also maintains all existing newspaper operations and will provide continuing employment to all existing full time employees and substantially all part time employees of the LP Entities. In addition, the new company will maintain all employee pension and benefit plans.
The AHC bid also provides unsecured creditors with cash or shares on a pro rata basis up to 45% of the equity in the new company. All creditors with claims of less than $1,000 will receive a cash payment for the full value of their proven claim. As announced on April 12, 2010, the LP Entities claims process will proceed and unsecured creditors of the LP Entities with proven claims of $1,000 or more will be able to elect to receive a pro rata distribution of shares in the entity that will purchase the assets of the LP Entities. "

Against the wishes of Canwest shareholders, the Canwest Monitor files Canwest newspapers into CCAA filing

Acknowledgement that Canwest could sell the newspapers with its 1.48 billion debt for a dollar
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Unsecured 421 US 9% notes robbed. US Securities Commission has jurisdication here, as US bonds, being give zilch.]


"In a letter filed in court Friday as CanWest's newspaper division sought protection from creditors and instigated the sale process, Mr. Asper said he objects to the move, arguing that the assets could fetch a much higher price down the road."

"In court, a lawyer for CanWest said the newspaper division could no longer pay its bills."


http://www.theglobeandmail.com/report-on-business/canwest-newspapers-go-on-block-despite-ceo-aspers-objections/article1424971/

Before the CCAA process started, the monitor agreed to file Canwest newspapers, the second Canwest CCAA filing

The 421 milion 9% US newspaper unsecured bonds would have been honoured, yet with the Canwest monitor voluntarily entering Canwest subsibuary, Canwest newspapers in it own CCAA filing, these 421 million in bonds now get zilch
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
- Canwest could have sold newspapers for a dollar with debt of 1.48 billion. CCAA filing has newspapers sold in a expropriationg sale, and the buyers selling the newspaper into an IPO with debt, pocketing the difference, the 421 million unsecured notes difference. Selling the newspapers into an IPO and making 400 million, suggests that the process to take the newspapers away from these 421 bonds and Canwest shareholders, is corrupt.

Therefore all future reporting of the newspapers, covering Canada's democracy and economic disclosure, are the result of this fraud seizing Canada's newspapers from Canwest and the 421 million newspaper bonds. Therefore irregularities in reporting the news, was accomplished through fraud to own the newspapers and TV.


Asper complained that newspaper should not be in filing, yet monitor files filing.


http://www.financialpost.com/news-sectors/story.html?id=2420231

Gift to Canada: The Alberta Investment Corporation to provide the financing for Torstar's purchase of Canwest's newspapers

Canada's newspaper disclosure monopoly saves upwards of a million a week by borrowing from locals
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Huge off balance sheet must for the Alberta Investment Corporation, that there be democracy, and a free, fair press; scores by making a secure bond investment, and a scores by protecting the newspapers from being used by lenders to own and attach artificially high interest rates, and money losing swaps to.

Economic goals of the Alberta Investment Management Corporation. (Crown Corporation that manages royalties and investment funds for the Province of Alberta.) Seen as a M4 corporation. Multigenerational investing, a macro holding company. As important as specific savings, is the safety and health of the nation. M4 corporations must takes advantage of opportunities, like financing Canada's newspapers. Benefits following generations of nation.

Canada's newspaper costs increased with FairFax financing abroad at high interest rates with currency/interest swaps. Best interest of the nation to have the newspaper creditors Canadian based. Covenant that the newspaper corporation owning the newspapers, is restricted from adding more debt.

retired CEO of Alliance Atlantis -- new member of Torstar Corporation Board

Buyer of Canwest newspaper disclosure monopoly, include retired CEO of Atlantis
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
2009 was a year of transition, transformation and consolidation for Torstar. The transition began with the election of five new members to the Torstar Board: Joan Dea, former EVP Strategy at BMO Financial Group; Dan Jauernig, President and CEO of Classified Ventures, LLC.; Alnasir Samji, retired Principal of Towers Perrin and Chair of the United Way (Toronto); Paul Weiss, retired Senior Partner of KPMG; and Phyllis Yaffe, retired CEO of Alliance Atlantis.

http://www.torstar.com/pdf/2009_TOStar_AR.pdf

GAAP 3862 Default disclosure of spefics required

Not in compliance with financial covenants -- needs to be defined: 9% 421 million debt and Canwest shareholders, demand more disclosure required about this covenant
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
"As at May 31, 2009, the Limited Partnership was not in compliance with its financial covenants under its Secured Credit Facilities. From May 2009 to August 2009, the Limited Partnership did not make interest and principal payments on its Secured Credit Facilities and the associated hedging derivative instruments or in respect of its Senior Subordinated Credit Facility or its Senior Subordinated Notes. These payments were not made in order to preserve liquidity to fund operations while the Limited Partnership worked to negotiate a potential recapitalization transaction. As a result of the payment default under the Secured Credit Facilities, the hedging derivative instrument counterparties terminated the secured hedging arrangements and demanded immediate payment of an aggregate of $68.9 million (the “Secured Hedge Obligations”)."

Hear this, the newspapers' unsecured 9% notes, unite with newspaper shareholders -- both offered zilch -- and Canada's newspapers expropriated

Collation of Canwest shareholders and 9% noteholders, shout that the CCAA proceeding and Justice Pepall''s including the newspapers is fraud. Lenders filing a CCAA filing is not a CCAA filing, but a petition for Chapter 11


No benefit for the 9% 421 million US unsecured notes; as no filing their unsecured debt being honoured in the IPO newpaper spin off. Justice Pepall order to include the seperate Canwest newspaper corporation in a double CCAA filing, the unsecured 9% noted get nothing. Therefore the CCAA order to inculde the newspapers in effect steals the newspapers from both the shareholders and the unsecured 9% 421 million notes.
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

Crisis for unsecured debt holders in Canada: CCAA proceeding is a sham to force a newspapers CCAA filing; not included in original filing

CCAA adding newspapers to CCAA filing, has the 400 million 9% note unsecured; whereas without filing the newspapers the 400 million 9% notes would be respected
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

Note Canada's newspaper shareholders and 400 million 9% lenders told Canada's flagship newspapers are being expropriated and that neither the shareholders or the 400 million unsecured debtholders get a penny.

~~~~~~~~~~~
Note that in 2007 on buying back newspaper income trust, that the 9% notes are part of a new debt package for Canwest newspapers. Secured and unsecured debt not independent the various debts.


[Shaw buying up Canwest debt, says owns Canwsest then. Like can buy up the debt of a company and tell shareholders their shares expropriated without compensation.




1. BASIS OF PRESENTATION AND GOING CONCERN
Creditor Protection
On January 8, 2010, Canwest (Canada) Inc., Canwest Publishing Inc. (“CPI”), and Canwest Books Inc.
(collectively the “LP Applicants”), applied for and obtained an order (the “Initial Order”) from the Ontario
Superior Court of Justice (Commercial List) (the “Court”) granting creditor protection under the
Companies’ Creditors Arrangement Act (Canada) (the “CCAA”). The Initial Order applies to the LP
Applicants and Canwest Limited Partnership (“Canwest LP” or the “Limited Partnership”) (collectively, the
“LP Entities”). National Post Inc., a wholly owned subsidiary of CPI, which owns and operates the
National Post newspaper, is not included in the CCAA filing. The Initial Order, among other provisions,
provides for a general stay of proceedings that has been extended to June 30, 2010 and may be further
extended by the Court. The Initial Order can be further amended by the Court throughout the CCAA
proceedings based on motions from the LP Entities, their creditors and other interested parties. For
additional information, see the discussion below under “Creditor Protection and Going Concern” and note
3, “CCAA Proceedings”.

The shares of Canwest held by existing shareholders will be extinguished without compensation.

What was the point of the voluntary CCAA filing then?
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

Canwest shares to be expropriated without compensation
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
http://cxa.marketwatch.com/TSX/en/Market/article.aspx?guid=http%3a%2f%2fsystem.marketwatch.com%2fnewscloud%2fdocguid%2f%7b104E55D3-5A5E-4E48-A1D8-E13790CFC9D8%7d&symb=CGS

Canwest voluntary CCAA filing results in

Shaw to buy all of Canwest? Confirmed.

http://cxa.marketwatch.com/TSX/en/Market/article.aspx?guid=http%3a%2f%2fsystem.marketwatch.com%2fnewscloud%2fdocguid%2f%7b104E55D3-5A5E-4E48-A1D8-E13790CFC9D8%7d&symb=CGS



http://www.theglobeandmail.com/globe-investor/analysts-criticize-shaw-canwest-deal/article1554711/

CanWest creditors will get $478-million in cash as part of a plan to be implemented under the Companies’ Creditors Arrangement Act.

Shaw buys Goldman Sachs put: Goldman Sachs sell put and interest in CW Media Holdings for 700 million to Shaw

Shaw backs out of 20percent purchase of Canwest:
http://www.calgaryherald.com/Shaw+Canwest+assets+billion/2981628/story.html
Quote, "Goldman Sachs certainly was key to being able to resolve the entire problem here, and we’re pleased we were able to come to a resolution that was suitable to both of us. So we’ve eliminated the litigation risk that could have held Canwest up for some time in the CCAA (company creditors arrangement act) process."" http://www.calgaryherald.com/Shaw+Canwest+assets+billion/2981628/story.html#ixzz0muTCZlT2


Deal to sell Goldman Sachs CW Media Holdings to Shaw, not an arms length transaction from expropraiting Canwest shares
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Price for Canwest shareholders 1.5 billion to by Goldman Sach CW Media Holdings put.

http://www.thestar.com/business/article/803719--shaw-s-canwest-deal-shifts-media-landscape
"The price tag includes $700 million in cash that Shaw will spend to buy the piece of a key Canwest Global subsidiary currently owned by New York-based investment bank Goldman Sachs."

Deal not approved by CCAA filing. Canwest shareholders ripped off, no reason for CCAA filing now. "The Canwest board and an Ontario bankruptcy judge had previously approved a deal for Shaw to buy at least 20 per cent of Canwest. Shaw’s offer was conditional on reaching a deal between it and Goldman Sachs that was acceptable to Canwest’s creditors and the court."

Sept 5, 2008 CanWest, also the country's largest newspaper publisher, is reportedly weighing a bid to be taken private by Fairfax Financial Holdings

Hollywood Reporter, insider news reports service, aka advertisement by insiders lobbing insiders
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~`
http://www.hollywoodreporter.com/hr/content_display/business/news/e3icf8c6241e735dcd3550506e618661e33?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+thr%2Fbusiness+(The+Hollywood+Reporter+-+Business)

Fairfax raises a billion dollars, yet Canwest shareholders cannot get an investor?

http://www.fairfax.ca/Assets/Downloads/Press/fpr2009-09-08b.pdf

FairFax part of Canwest missed interest payments, to take Canwest private

CCAA public company expropriation fraud
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

http://www.paherald.sk.ca/Business/Economy/2009-02-20/article-180907/Canwest-shares-take-beating-on-speculation-the-media-giant-is-near-bankruptcy/1

Quote, "Fairfax chairman and chief executive Prem Watsa would neither confirm nor deny reports that the firm is interested in taking Canwest's operations private."


"We can't say anything about Canwest. Our policy has always been - 23 years now - that we don't talk about our individual investments," Watsa told investors in Fairfax's quarterly earnings call on Friday. "


"Last December, Fairfax increased its stake in Canwest to 22.41 per cent, sparking speculation that it could be looking to buy out the company's minority shareholders."

Cataylst says it would honour the Goldman Sachs deal is fraud

Goldman Sachs Catalyst offering two different deals concerning the sale of Goldman Sachs put: Catalyst Goldman Sachs deal around the put, is different from what Canwest shareholders offered, is fraud.
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
http://seekingalpha.com/article/189599-shaw-s-canwest-problem


[Payment to federal government, yet another issue not to take Canwest private. And not sell multi voting shares to Shaw. Note, if Shaw gets a deal with the Goldman Sachs put, Canwest shareholders should also get that deal too.]
Quote, "Shaw wants to set aside a $40 million payment that the federal government would demand to reflect a change of control at a media company. Shaw’s government relations strategy on this front is based on a pitch that they are the only bidder offering stability.
- There's a trap door that lets Shaw walk if it can't re-cut the ownership of CW Media, the parent company for the specialty channels, sources say. CW Media is co-owned by Goldman Sachs.
CanWest holds 35% of the equity, the New York investment bank holds 65%, and Goldman Sachs has the right to sell its stake to CanWest at a preset price in 2011.
Catalyst’s bid would honor that Goldman Sachs deal, struck in 2007, which means the U.S. investment bank is solidly in the private equity fund’s corner. Shaw has not reached out to Goldman Sachs since bidding for CanWest, citing agreements the cable company signed as part of the auction process. That refusal to engage the investment bank now looks like a serious tactical error."

Fairfax manipulating Canwest newspaper disclosure on the Canadian economy, fixing Canada's political debate, prosperous for Fairfax

http://www.fairfax.ca/financial.htm
Quote, "In 1985, we began with $30 million in assets and $7.6 million in common equity.We ended 2009, 24 years later, with $28 billion in assets and $7.4 billion in common equity – almost 1,000 times higher than when we began. More importantly, since inception, book value per share has compounded by 26% per year, while our common stock price has followed at 22% per year."


http://www.cjr.org/the_audit/canadian_club.php
In an email exchange, Francis told us Fairfax’s stock ownership of Canwest was “irrelevant. The stake is tiny—the Asper family controls the empire through” multiple-voting shares. (Like The New York Times Company or the old Dow Jones, say, Canwest has multiple tiers of stock that allow the original owners to control the company without owning most of the shares. That’s because each of their shares gets multiple votes.)

Francis compares writing about Fairfax to writing about a company who advertises in the paper. “There is no conflict any more than there would be a conflict writing about a bank or other corporation that advertises in any of the Canwest media properties,” she says. She also says it isn’t necessary to disclose it because it’s so widely known. “Editors felt that biz readers know that,” she says.

Ian Karleff, the Financial Post’s managing editor, uses similar reasoning to explain why it’s not necessary to disclose Fairfax’s stake in his paper’s parent. “It’s a passive investment as far as we know,” he says. “I’d think there are a lot of individuals that own a stake in Canwest. If it got to the point where they actually had control or were on the board we would disclose it.”

Karleff says Post editors give her leeway on such decisions. “Diane—she’s been around a long time,” he says. “She knows the boundaries, she knows what would be crossing the boundaries and I would trust that decisions she makes in her position and years of being financial journalist, that she would know when she should disclose that. As editor at large, we do leave a lot of those decisions up to her.”

Still, Karleff acknowledges: “It’s a good point to raise and something we will consider in the future.”

In this case, the Post made a serious mistake. Fairfax’s stake is neither “tiny,” “passive,” nor remotely comparable to that of an advertiser. While Fairfax has little voting power, it owns about 10.5 percent of Canwest’s economic value (known as market capitalization). It beggars belief that Watsa and Fairfax don’t have clout, if for no other reason than their ability to push he stock price down by selling off their stake at a time when Canwest can ill afford it: Its shares are down 70 percent so far this year."

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Quote, "Francis and her editor both say it wasn’t necessary to disclose that because Canwest’s voting shares are controlled by the Asper family. If only it were that simple.
The saga begins with a July 28 column by Francis headlined “Fairfax Financial beats bad markets.” In it she interviews Watsa about his successful bet against credit markets, which has resulted in a wave of cash for the firm this year. At the time, the shares were languishing (though they’ve jumped more than 20 percent since). The questions, except for one about an investigation by the Securities and Exchange Commission into alleged accounting irregularities at Fairfax, weren’t exactly hard-hitting, including this one:"

Fairfax suppressing Canwest stock price -- and influencing the public company Canwest audit disclosure practices -- not okay

Always was going to bid -- Public relations to saying pulling out --More manipulation
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Quote, "Fairfax Financial Holdings Ltd., which pulled out of the auction Thursday when talks with its banks broke down, returned to the table Friday to submit a bid in conjunction with Torstar Corp., owner of the Toronto Star newspaper."

http://www.theglobeandmail.com/report-on-business/fairfax-torstar-return-to-canwest-hunt/article1553196/

Sec Canada warns Fairfax not to supply Canwest shares, sold for the direct purpose of suppressing Canwest shares price

Tax wise Fairfax selling their Canwest shares for .20 cents or 6 cents is irrelevant
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
FairFax Canwest stock should not be made available for sale below a dollar. Translation: around a quarter of Canwest one vote shares no longer available for sale. [Fairfax Canwest shares were not for sale, but dangled to suppress small investors run ups in Canwest stock, is stock manipulation.]

Fairfax selling their Canwest shares for the purpose of manipulating and decreasing Canwest penny stock, is stock manipulation. Fairfax's bidding on Canwest assets, restricts Fairfax from manipulating the price of Canwest shares.

Host of issues that restrict Fairfax from dumping Canwest shares, to keep the price of Canwest one vote shares down, near the CCAA bid for Canwest shares: Example, the failure of Canwest to pay the Sept 15 still, and leave the Sept15 interest payment outstanding, while paying out 398 million in a principle payment to the 8% noteholders (while bonds trading at below a dollar) creates obligations controlling shareholders Fairfax not to aid the expropriation of Canwest shares.

Fairfax deemed with insider status for the public company Canwest. It would be fair that Fairfax buy back the Canwest shares they already sold, to help Fairfax's interests in eating Canwest.

http://www.theglobeandmail.com/globe-investor/fairfax-posts-2902-million-profit/article1551523/


~~~~~~~~~
http://www.cjr.org/the_audit/canadian_club.php



[Message to Fairfax. Fairfax gains access to borrow from the Canadian Federal Reserve. A bank holding company definition allows borrowing from the Canadian Federal Reserve. Deal is that please Fairfax, do not sell your shares at a lose to suppress Canwest share penny price. Up Hold The Right.]