Canwest negotiated a lifeline for itself worth $175-million, providing yet more breathing room for refinancing negotiations with banks, bondholders and possible investors. Under the new arrangement Canwest has until June 15 to complete a recapitalization agreement in principle, and a final agreement by July 15. The company has missed several previous deadlines for payments.
A Globe and Mail story is here. Canadian Press reports, here. The Canwest press release is here.
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