MTV veteran and Revolt TV alum Andy Schuon has been named president of Axs TV and HDNet Movies.
Schuon will oversee all aspects of Axs and HDNet, the cable channels founded by Mark Cuban and owned since 2019 by Leonard Asper’s Toronto-based Anthem Sports and Entertainment.
Schuon has a long history as a content executive in cable TV, media and music.
“Andy Schuon is a true trailblazer in this industry, and a driving force behind many definitive pop culture landmarks that have left an indelible impact throughout the world,” said Asper, who is president and CEO of Anthem. “His reputation as a legendary brand builder is well-earned, and his breadth of expertise will be vital in ushering in an important era for both Axs TV and HDNet Movies.”
Schuon co-founded Revolt Media and TV, Sean “Diddy” Combs’ independently owned music and television brand. Schuon also served as executive VP and...
Schuon will oversee all aspects of Axs and HDNet, the cable channels founded by Mark Cuban and owned since 2019 by Leonard Asper’s Toronto-based Anthem Sports and Entertainment.
Schuon has a long history as a content executive in cable TV, media and music.
“Andy Schuon is a true trailblazer in this industry, and a driving force behind many definitive pop culture landmarks that have left an indelible impact throughout the world,” said Asper, who is president and CEO of Anthem. “His reputation as a legendary brand builder is well-earned, and his breadth of expertise will be vital in ushering in an important era for both Axs TV and HDNet Movies.”
Schuon co-founded Revolt Media and TV, Sean “Diddy” Combs’ independently owned music and television brand. Schuon also served as executive VP and...
- 2/27/2024
- by Jaden Thompson
- Variety Film + TV
Nolan Gallagher’s time running Gravitas Ventures will soon come to an end.
After 17 years, the founder and CEO will depart the distribution company as of March 31, after which time he will focus on an upstart Major League Soccer Next Pro men’s professional soccer team in Cleveland. The team is scheduled to begin league play in 2025. Per today’s news, Gravitas owner Anthem Sports & Entertainment — a multinational media company founded by Leonard Asper — is expected to announce new leadership in the coming months.
He won’t be relocating to Cleveland as he’s already there. In 2019, Gallagher and Gravitas co-owners Michael Murphy and Brendan Gallagher moved the company to the Ohio city in a bid to “further economic momentum for media and entertainment in their hometown,” per the company. The soccer team is the latest push to continue those efforts.
In a statement about his exit, Gallagher explained...
After 17 years, the founder and CEO will depart the distribution company as of March 31, after which time he will focus on an upstart Major League Soccer Next Pro men’s professional soccer team in Cleveland. The team is scheduled to begin league play in 2025. Per today’s news, Gravitas owner Anthem Sports & Entertainment — a multinational media company founded by Leonard Asper — is expected to announce new leadership in the coming months.
He won’t be relocating to Cleveland as he’s already there. In 2019, Gallagher and Gravitas co-owners Michael Murphy and Brendan Gallagher moved the company to the Ohio city in a bid to “further economic momentum for media and entertainment in their hometown,” per the company. The soccer team is the latest push to continue those efforts.
In a statement about his exit, Gallagher explained...
- 2/17/2023
- by Chris Gardner
- The Hollywood Reporter - Movie News
Red Arrow Studios has agreed to sell Gravitas Ventures, the prolific narrative film and documentary distributor with a 3,000-title catalogue, to Anthem Sports & Entertainment, a multi-platform media company with offices and studios in Los Angeles, Denver, Nashville, New York, Kansas City and Toronto.
Red Arrow is the content production and distribution arm of Germany’s ProSiebenSat.1 Group.
The deal, which will launch Gravitas into television distribution, was based on a cash purchase price of $73 million and an additional common stock consideration component.
Anthem owns seven consumer-facing streaming channels: Axs TV (music and entertainment) and Hdnet Movies — acquired from Mark Cuban in 2019; Impact Wrestling; Invicta Fighting Championships (all-women mixed martial arts); Fight Network (combat sports); Game+ (esports and gaming); GameTV; and a significant ownership in outdoor network Pursuit Channel. Anthem and Gravitas will develop new themed channels.
Cleveland-based Gravitas was founded in 2006 and acquired by Red...
Red Arrow is the content production and distribution arm of Germany’s ProSiebenSat.1 Group.
The deal, which will launch Gravitas into television distribution, was based on a cash purchase price of $73 million and an additional common stock consideration component.
Anthem owns seven consumer-facing streaming channels: Axs TV (music and entertainment) and Hdnet Movies — acquired from Mark Cuban in 2019; Impact Wrestling; Invicta Fighting Championships (all-women mixed martial arts); Fight Network (combat sports); Game+ (esports and gaming); GameTV; and a significant ownership in outdoor network Pursuit Channel. Anthem and Gravitas will develop new themed channels.
Cleveland-based Gravitas was founded in 2006 and acquired by Red...
- 11/16/2021
- by Jill Goldsmith
- Deadline Film + TV
Anthem Sports & Entertainment has acquired Gravitas Ventures’ 3,000-title content library from ProSieben’s Red Arrow Studios for $73 million in cash.
The transaction also includes an undisclosed amount of Anthem stock. The Toronto-based media company headed by longtime Canwest TV executive Leonard Asper plans to use the range of documentaries and narrative movies in the Gravitas vault to fuel new free ad-support streaming TV channels, which offer content owners a ready path to monetize movie and TV libraries.
Gravitas’ recent releases include the ensemble comedy “Queen Bees” toplined by Ellen Burstyn and James Caan. Anthem also owns the Axs TV, HD Net and Pursuit TV channels as well as the Impact Wrestling franchises. All told, the Gravitas
Based in Cleveland, Gravitas has acquired and released a wide range of movies since its launch more than 15 years ago. The company’s top executives will join Anthem Sports’ executive roster, including Gravitas founder and CEO Nolan Gallagher,...
The transaction also includes an undisclosed amount of Anthem stock. The Toronto-based media company headed by longtime Canwest TV executive Leonard Asper plans to use the range of documentaries and narrative movies in the Gravitas vault to fuel new free ad-support streaming TV channels, which offer content owners a ready path to monetize movie and TV libraries.
Gravitas’ recent releases include the ensemble comedy “Queen Bees” toplined by Ellen Burstyn and James Caan. Anthem also owns the Axs TV, HD Net and Pursuit TV channels as well as the Impact Wrestling franchises. All told, the Gravitas
Based in Cleveland, Gravitas has acquired and released a wide range of movies since its launch more than 15 years ago. The company’s top executives will join Anthem Sports’ executive roster, including Gravitas founder and CEO Nolan Gallagher,...
- 11/16/2021
- by Cynthia Littleton
- Variety Film + TV
Entire Gravitas Ventures organisation to remain intact.
Multi-platform media company Anthem Sports & Entertainment has acquired Gravitas Ventures from Red Arrow Studios for an undisclosed sum.
The cash and common stock transaction means Gravitas joins a stable that includes Axs TV, HDNet Movies, Impact Wrestling and Game+ and GameTV.
Founder and CEO Nolan Gallagher, president Michael Murphy, EVP and general counsel Brendan Gallagher and CFO Brian Kenyon will be joining the Anthem executive team. The entire Gravitas Ventures organisation will remain intact.
Gravitas Ventures was acquired by Red Arrow Studios in November 2017 and typically releases more than 300 films and documentaries a year.
Multi-platform media company Anthem Sports & Entertainment has acquired Gravitas Ventures from Red Arrow Studios for an undisclosed sum.
The cash and common stock transaction means Gravitas joins a stable that includes Axs TV, HDNet Movies, Impact Wrestling and Game+ and GameTV.
Founder and CEO Nolan Gallagher, president Michael Murphy, EVP and general counsel Brendan Gallagher and CFO Brian Kenyon will be joining the Anthem executive team. The entire Gravitas Ventures organisation will remain intact.
Gravitas Ventures was acquired by Red Arrow Studios in November 2017 and typically releases more than 300 films and documentaries a year.
- 11/16/2021
- by Jeremy Kay
- ScreenDaily
Forty people have been let go from Axs TV following Mark Cuban’s sale of his majority stake in the cable network and the channel HDNet Movies to Steve Harvey and Anthem Sports & Entertainment on Monday, two individuals close to the situation tell TheWrap exclusively.
The cuts came about quickly, with terminations occurring within hours of Cuban’s sell-off being announced yesterday, four different people said. One of our sources added that there wasn’t even an opportunity for the consultants to try to negotiate a new contract.
Another person classified the layoffs as “deep cuts” that disproportionately impacted the fight and concert teams. The person told us that some remaining staffers in the Los Angeles office are sitting around waiting for marching orders — or at least for a new boss. Axs’ Dallas and Denver offices were hit even harder than L.A.
Bob Gold from Bob Gold & Associates,...
The cuts came about quickly, with terminations occurring within hours of Cuban’s sell-off being announced yesterday, four different people said. One of our sources added that there wasn’t even an opportunity for the consultants to try to negotiate a new contract.
Another person classified the layoffs as “deep cuts” that disproportionately impacted the fight and concert teams. The person told us that some remaining staffers in the Los Angeles office are sitting around waiting for marching orders — or at least for a new boss. Axs’ Dallas and Denver offices were hit even harder than L.A.
Bob Gold from Bob Gold & Associates,...
- 9/11/2019
- by Tony Maglio and Jennifer Maas
- The Wrap
Mark Cuban has sold a majority stake in cable networks Axs TV and HDNet Movies to Anthem Sports & Entertainment, with Steve Harvey on board as a financial and creative partner.
Anthem will take over operational control of the channels. Cuban and Aeg will continue to participate as equity partners, and Aeg Global Partnerships, Aeg’s advertising and sponsorship sales unit, will continue to support the channels in conjunction with Anthem’s sales team.
Along with a content development deal, Harvey’s company, Steve Harvey Global, will have a seat on the board of directors of Anthem. “My team and I see great opportunity in Anthem,” Harvey said. “They have incredible shows, experiential entertainment, and a huge reach. We look forward to collaborating with Anthem on content development that will surprise and delight this newly expanded audience.”
Also Read: New Japan Pro Wrestling and 'Wow - Women of Wrestling' to...
Anthem will take over operational control of the channels. Cuban and Aeg will continue to participate as equity partners, and Aeg Global Partnerships, Aeg’s advertising and sponsorship sales unit, will continue to support the channels in conjunction with Anthem’s sales team.
Along with a content development deal, Harvey’s company, Steve Harvey Global, will have a seat on the board of directors of Anthem. “My team and I see great opportunity in Anthem,” Harvey said. “They have incredible shows, experiential entertainment, and a huge reach. We look forward to collaborating with Anthem on content development that will surprise and delight this newly expanded audience.”
Also Read: New Japan Pro Wrestling and 'Wow - Women of Wrestling' to...
- 9/9/2019
- by Tim Baysinger
- The Wrap
Mark Cuban has sold a majority stake in his HDNet cable channels to Leonard Asper’s Anthem Sports & Entertainment.
Entertainer and ubiquitous TV host Steve Harvey has signed on with Toronto-based Anthem as an investor in the deal that includes the music-focused Axs TV channel and HDNet Movies. Anschutz Entertainment Group and Cuban remain equity partners in the venture as well. Terms of the deal were not disclosed.
Founded in 2011, Anthem operates linear and digital channels in the U.S. and Canada devoted to wrestling, boxing, hunting and fishing and gaming.
“Anthem was founded with a mission to deliver compelling, targeted content and experiences to passionate fans globally on the platform of their choice. The music, sports and entertainment communities served by these channels are a natural extension and perfect complement to our existing properties,” said Asper, who is CEO of Anthem and former CEO of CanWest Global Communications Corp.
Entertainer and ubiquitous TV host Steve Harvey has signed on with Toronto-based Anthem as an investor in the deal that includes the music-focused Axs TV channel and HDNet Movies. Anschutz Entertainment Group and Cuban remain equity partners in the venture as well. Terms of the deal were not disclosed.
Founded in 2011, Anthem operates linear and digital channels in the U.S. and Canada devoted to wrestling, boxing, hunting and fishing and gaming.
“Anthem was founded with a mission to deliver compelling, targeted content and experiences to passionate fans globally on the platform of their choice. The music, sports and entertainment communities served by these channels are a natural extension and perfect complement to our existing properties,” said Asper, who is CEO of Anthem and former CEO of CanWest Global Communications Corp.
- 9/9/2019
- by Cynthia Littleton
- Variety Film + TV
Mark Cuban has sold a majority stake in HDNet, parent of U.S. TV networks Axs TV and HDNet Movies, to Canadian-based Anthem Sports & Entertainment and entertainer Steve Harvey.
Terms of the deal were not disclosed. Anthem Sports, led by CEO Leonard Asper, a former head of Canadian broadcaster CanWest Global Communications Corp., will take over management of the TV networks offering music, sports, entertainment and lifestyle content.
As an investor, Harvey is also striking a strategic agreement for content development and promotion of Anthem’s portfolio of channels. Cuban and Aeg will continue as equity partners in the ...
Terms of the deal were not disclosed. Anthem Sports, led by CEO Leonard Asper, a former head of Canadian broadcaster CanWest Global Communications Corp., will take over management of the TV networks offering music, sports, entertainment and lifestyle content.
As an investor, Harvey is also striking a strategic agreement for content development and promotion of Anthem’s portfolio of channels. Cuban and Aeg will continue as equity partners in the ...
Toronto -- There's no going away quietly for former Canwest Global Communications Corp. CEO Leonard Asper.
Canwest Global, the Canadian media empire founded by his late father Israel Asper more than 30 years ago, is to seek court approval to emerge from creditor protection on June 22, and creditor approval for its financial restructuring on July 19.
But before Canwest Global passes those hurdles, Leonard Asper, who left the top post last March, has launched yet another legal challenge to derail a $2 billion takeover of the company's TV assets by cable operator Shaw Communications.
A group of rebel shareholders led by Asper have called for the Shaw deal to be ditched and for a 30-day auction of the TV assets to be conducted.
The ad hoc group of aggrieved investors in court documents argued Shaw first proposed to acquire a 20% equity stake in Canwest Global, which an Ontario court directing the restructuring blessed...
Canwest Global, the Canadian media empire founded by his late father Israel Asper more than 30 years ago, is to seek court approval to emerge from creditor protection on June 22, and creditor approval for its financial restructuring on July 19.
But before Canwest Global passes those hurdles, Leonard Asper, who left the top post last March, has launched yet another legal challenge to derail a $2 billion takeover of the company's TV assets by cable operator Shaw Communications.
A group of rebel shareholders led by Asper have called for the Shaw deal to be ditched and for a 30-day auction of the TV assets to be conducted.
The ad hoc group of aggrieved investors in court documents argued Shaw first proposed to acquire a 20% equity stake in Canwest Global, which an Ontario court directing the restructuring blessed...
- 6/17/2010
- by By Etan Vlessing
- The Hollywood Reporter - Movie News
Toronto -- Former Canwest Global Communications Corp. CEO Leonard Asper is making a last stand for his lost media empire.
Asper, whose family stands to walk away empty-handed after the spectacular collapse of the Canadian broadcaster and newspaper publisher, is leading a group of dissident shareholders to ask the Ontario Court of Justice to block cable giant Shaw Communications from buying Canwest Global's TV assets for $2 billion.
"There simply has not been a vigorous and lengthy solicitation process, nor a thorough canvass of the market with respect to 100% of the equity of Canwest and it is therefore neither possible nor fair to conclude that there is no remaining value for existing Canwest equity holders," the rebel investors said in a May 25 letter to the court obtained and published Thursday by the National Post newspaper.
Canwest Global tipped itself into creditor protection in late 2009 after buckling under the weight of a $4 billion debt load.
Asper, whose family stands to walk away empty-handed after the spectacular collapse of the Canadian broadcaster and newspaper publisher, is leading a group of dissident shareholders to ask the Ontario Court of Justice to block cable giant Shaw Communications from buying Canwest Global's TV assets for $2 billion.
"There simply has not been a vigorous and lengthy solicitation process, nor a thorough canvass of the market with respect to 100% of the equity of Canwest and it is therefore neither possible nor fair to conclude that there is no remaining value for existing Canwest equity holders," the rebel investors said in a May 25 letter to the court obtained and published Thursday by the National Post newspaper.
Canwest Global tipped itself into creditor protection in late 2009 after buckling under the weight of a $4 billion debt load.
- 6/3/2010
- by By Etan Vlessing
- The Hollywood Reporter - Movie News
Toronto -- Leonard Asper is stepping down as president and CEO of Canwest Global Communications as the debt-laden Canadian broadcaster and newspaper publisher moves closer to emerging from creditor protection.
Asper, whose late father Israel Asper founded the Canadian media giant during the 1970s, two weeks ago failed with an eleventh hour consortium bid that included backing from Goldman Sachs & Co. to stop domestic cable operator Shaw Communications from acquiring a controlling stake in a restructured Canwest Global.
Canwest Global in a statement said Asper offered his resignation to "avoid any concerns regarding potential conflicts of interest" as the company completes its passage through court-directed bankruptcy protection.
Asper will work as a consultant to Canwest Global until it exits creditor protection and Shaw Communications becomes its controlling shareholder, as planned.
U.S. bondholders effectively put Canwest Global in creditor protection last October to help the company get out from under...
Asper, whose late father Israel Asper founded the Canadian media giant during the 1970s, two weeks ago failed with an eleventh hour consortium bid that included backing from Goldman Sachs & Co. to stop domestic cable operator Shaw Communications from acquiring a controlling stake in a restructured Canwest Global.
Canwest Global in a statement said Asper offered his resignation to "avoid any concerns regarding potential conflicts of interest" as the company completes its passage through court-directed bankruptcy protection.
Asper will work as a consultant to Canwest Global until it exits creditor protection and Shaw Communications becomes its controlling shareholder, as planned.
U.S. bondholders effectively put Canwest Global in creditor protection last October to help the company get out from under...
- 3/4/2010
- by By Etan Vlessing
- The Hollywood Reporter - Movie News
Toronto -- Goldman Sachs & Co. looks set to renegotiate a 2007 ownership agreement for 13 Canadian cable channels after cable giant Shaw Communications secured court approval to take control of the restructuring Canadian broadcaster Canwest Global Communications Corp.
Calgary-based Shaw beat a rival $120 million bid by Canadian equity fund Catalyst Capital Group and Canwest Global Communications Corp. CEO Leonard Asper for a controlling stake in the embattled Canadian broadcaster.
The Ontario Superior Court of Justice instead backed a $95 million Shaw Communications bid as it continues a five-month journey to steer Canwest Global out of creditor protection.
Pending regulatory approval and a successful court-directed recapitalization, Shaw will acquire at least a 20% equity stake in Canwest Global and voting control of the broadcaster.
Goldman Sachs backed an eleventh-hour failed bid for control of Canwest Global led by Toronto equity firm Catalyst Capital Group, in part because the winning Shaw bid proposes to tear up...
Calgary-based Shaw beat a rival $120 million bid by Canadian equity fund Catalyst Capital Group and Canwest Global Communications Corp. CEO Leonard Asper for a controlling stake in the embattled Canadian broadcaster.
The Ontario Superior Court of Justice instead backed a $95 million Shaw Communications bid as it continues a five-month journey to steer Canwest Global out of creditor protection.
Pending regulatory approval and a successful court-directed recapitalization, Shaw will acquire at least a 20% equity stake in Canwest Global and voting control of the broadcaster.
Goldman Sachs backed an eleventh-hour failed bid for control of Canwest Global led by Toronto equity firm Catalyst Capital Group, in part because the winning Shaw bid proposes to tear up...
- 2/22/2010
- by By Etan Vlessing
- The Hollywood Reporter - Movie News
Toronto -- An improving TV ad market helped Canadian broadcaster Astral Media on Thursday post higher first quarter profits.
Montreal-based Astral, which operates radio stations, pay TV and cable channels, saw earnings jump 42% to CAN64.6 million ($62.6 million) for the three months to Nov. 30, against a profit of Can$39.6 million in 2008.
Revenue edged 3% higher to Can$250.6 million ($243.2 million), against a year-earlier Can$244.5 million.
On the TV side, where Astral has just launched HBO Canada, revenue rose 6% to Can$141.2 million ($137 million), against Can$133 million in 2008, as ad revenue rose 1% and subscriber fee revenue increased 8%.
On the radio side, revenue fell 1% to Can$89.2 million ($83.4 million), from a year-earlier Can$89.8 million.
Signs of a Canadian ad spend revival were also seen Wednesday when Corus Entertainment also posted higher first quarter earnings.
The Canadian broadcast reporting season also saw rival Canwest Global Communications Corp. post a first quarter profit on the sale of its stake...
Montreal-based Astral, which operates radio stations, pay TV and cable channels, saw earnings jump 42% to CAN64.6 million ($62.6 million) for the three months to Nov. 30, against a profit of Can$39.6 million in 2008.
Revenue edged 3% higher to Can$250.6 million ($243.2 million), against a year-earlier Can$244.5 million.
On the TV side, where Astral has just launched HBO Canada, revenue rose 6% to Can$141.2 million ($137 million), against Can$133 million in 2008, as ad revenue rose 1% and subscriber fee revenue increased 8%.
On the radio side, revenue fell 1% to Can$89.2 million ($83.4 million), from a year-earlier Can$89.8 million.
Signs of a Canadian ad spend revival were also seen Wednesday when Corus Entertainment also posted higher first quarter earnings.
The Canadian broadcast reporting season also saw rival Canwest Global Communications Corp. post a first quarter profit on the sale of its stake...
- 1/14/2010
- by By Etan Vlessing
- The Hollywood Reporter - Movie News
Toronto -- Following marathon talks with bankers, Canwest Global Communications Corp. is to file for bankruptcy protection Tuesday to complete a controlled recapitalization plan.
Debt-laden Canwest Global said it will voluntarily file for creditor protection under Canada's Companies' Creditors Arrangement Act.
A majority of U.S. bondholders owed $761 million and a missed interest payment by Canwest Global agreed to the move that will effectively place the Canadian broadcaster in the hands of distressed debt and vulture funds.
"This pre-packaged financial restructuring is intended to minimize business disruption and preserve the value of these business operations," Canwest president and CEO Leonard Asper said in a statement.
Asper added Canwest and its 1,700 employees expect to emerge from Ccaa protection in four to six months "on a stronger footing for the future."
As part of the proposed restructuring, U.S. bondholders and senior lenders will exchange debt for equity in Canwest Global, which operates TV,...
Debt-laden Canwest Global said it will voluntarily file for creditor protection under Canada's Companies' Creditors Arrangement Act.
A majority of U.S. bondholders owed $761 million and a missed interest payment by Canwest Global agreed to the move that will effectively place the Canadian broadcaster in the hands of distressed debt and vulture funds.
"This pre-packaged financial restructuring is intended to minimize business disruption and preserve the value of these business operations," Canwest president and CEO Leonard Asper said in a statement.
Asper added Canwest and its 1,700 employees expect to emerge from Ccaa protection in four to six months "on a stronger footing for the future."
As part of the proposed restructuring, U.S. bondholders and senior lenders will exchange debt for equity in Canwest Global, which operates TV,...
- 10/6/2009
- by By Etan Vlessing
- The Hollywood Reporter - Movie News
Toronto -- Around 45 jobs have been saved after employees at Victoria, B.C.-based Chek-tv secured an eleventh-hour deal to buy the local TV station.
Chek-tv, which launched on air in 1956, was set to be closed Monday by Canwest Global Communications Corp.
Following marathon negotiations, the employees and a group of investors bought Chek-tv for an undisclosed nominal price, Canwest Global indicated.
"Many dedicated individuals on both sides of the table came together and the result is that it has preserved jobs and service in the community," Canwest Global president and CEO Leonard Asper said.
"One week ago, we thought that this station was going to close and today we have a result that is beneficial for all parties," he added in a statement.
Canwest Global has recently been selling off loss-making local TV stations for between $1 and $12 as it phases out its secondary E! network to focus on the main Global Television network.
Chek-tv, which launched on air in 1956, was set to be closed Monday by Canwest Global Communications Corp.
Following marathon negotiations, the employees and a group of investors bought Chek-tv for an undisclosed nominal price, Canwest Global indicated.
"Many dedicated individuals on both sides of the table came together and the result is that it has preserved jobs and service in the community," Canwest Global president and CEO Leonard Asper said.
"One week ago, we thought that this station was going to close and today we have a result that is beneficial for all parties," he added in a statement.
Canwest Global has recently been selling off loss-making local TV stations for between $1 and $12 as it phases out its secondary E! network to focus on the main Global Television network.
- 9/7/2009
- by By Etan Vlessing
- The Hollywood Reporter - Movie News
Toronto -- Canadian broadcaster Canwest Global Communications Corp. continues to post losses as it negotiates a debt restructuring deal with creditors to stave off bankruptcy protection.
Winnipeg-based Canwest Global on Friday recorded a widened third quarter loss of Can$109.6 million ($94.6 million) for the three months to May 31, against a loss of Can$28.3 million in 2008.
Revenue fell 14% to Can$727 million ($625.5 million), against a year-earlier Can$846 million, to reflect weakened advertising markets.
The steep loss comes as the media group took a non-cash Can$246.9 million ($212.5 million) impairment charge to reflect lower future profit expectations for its newspapers during the current economic downturn.
Revenue from publishing operations fell 19% to Can$269 million ($231.5 million), while revenue from its Canadian TV business, including over-the-air stations and cable channels, was off 2% to $276 million.
Canwest Global CEO Leonard Asper told analysts that the current soft advertising market showed no early signs of improving.
"We do expect the economy...
Winnipeg-based Canwest Global on Friday recorded a widened third quarter loss of Can$109.6 million ($94.6 million) for the three months to May 31, against a loss of Can$28.3 million in 2008.
Revenue fell 14% to Can$727 million ($625.5 million), against a year-earlier Can$846 million, to reflect weakened advertising markets.
The steep loss comes as the media group took a non-cash Can$246.9 million ($212.5 million) impairment charge to reflect lower future profit expectations for its newspapers during the current economic downturn.
Revenue from publishing operations fell 19% to Can$269 million ($231.5 million), while revenue from its Canadian TV business, including over-the-air stations and cable channels, was off 2% to $276 million.
Canwest Global CEO Leonard Asper told analysts that the current soft advertising market showed no early signs of improving.
"We do expect the economy...
- 7/10/2009
- by By Etan Vlessing
- The Hollywood Reporter - Movie News
TORONTO -- Canadian broadcasters CTV and CanWest Media, normally rivals for Canadian primetime dominance, on Thursday acted together in asking for compensation by cable and satellite TV services for their signals.
CanWest CEO Leonard Asper told a CRTC hearing into the future of Canadian television that cable giants demand deregulation "but have profited from regulations that allow them to expropriate the signals of local stations without charge."
CTV and CanWest asked that the CRTC order cable operators to pay an average CAN$2.40 a month per subscriber for carriage of conventional broadcast signals.
Cable operators, who appeared last week at the regulatory hearings, bitterly oppose the fee-for-carriage proposal as consumers already receive conventional signals for free.
CRTC chairman Konrad von Finckenstein asked Asper what consumers would gain from their pitch for hiked cable and satellite TV rates.
"We're talking about retaining, maintaining, sustaining what they already have," Asper replied.
CTV CEO Ivan Fecan warned Canada's TV regulator not to bow to a demand from cable operators to end so-called genre protection, whereby a U.S.
CanWest CEO Leonard Asper told a CRTC hearing into the future of Canadian television that cable giants demand deregulation "but have profited from regulations that allow them to expropriate the signals of local stations without charge."
CTV and CanWest asked that the CRTC order cable operators to pay an average CAN$2.40 a month per subscriber for carriage of conventional broadcast signals.
Cable operators, who appeared last week at the regulatory hearings, bitterly oppose the fee-for-carriage proposal as consumers already receive conventional signals for free.
CRTC chairman Konrad von Finckenstein asked Asper what consumers would gain from their pitch for hiked cable and satellite TV rates.
"We're talking about retaining, maintaining, sustaining what they already have," Asper replied.
CTV CEO Ivan Fecan warned Canada's TV regulator not to bow to a demand from cable operators to end so-called genre protection, whereby a U.S.
- 4/17/2008
- The Hollywood Reporter - Movie News
TORONTO -- Canada's TV watchdog on Tuesday hinted it may ask domestic broadcaster CanWest Global Communications Corp. to raise its stake in Alliance Atlantis Communications to at least 50% in order to conform to current foreign ownership restrictions.
As public hearings into the takeover of Alliance Atlantis by CanWest Global and equity partner Goldman Sachs & Co. wrapped up, Canada's top regulator asked the broadcaster how much new equity in Alliance Atlantis would be required to make CanWest Global the deal's majority investor.
CanWest Global CEO Leonard Asper told the Canadian Radio-television and Telecommunications that CAN$110 million ($100 million) would get this company to 50% ownership, but to do so would cause undue financial strain.
"We structured this transaction so we would not have to bet the farm. If they want to define betting the farm, that would take us certainly close to that rather intangible statement," Asper told CRTC chairman Konrad von Finckenstein.
During two days of hearings into the proposed deal, CRTC commissioners expressed concern that CanWest proposed to retain a 64% voting interest in a new broadcast joint venture comprising Global Television and Alliance Atlantis' cable channels, despite the fact that takeover partner Goldman Sachs is financing most of the CAN$1.4 billion ($1.37 billion) takeover price.
As public hearings into the takeover of Alliance Atlantis by CanWest Global and equity partner Goldman Sachs & Co. wrapped up, Canada's top regulator asked the broadcaster how much new equity in Alliance Atlantis would be required to make CanWest Global the deal's majority investor.
CanWest Global CEO Leonard Asper told the Canadian Radio-television and Telecommunications that CAN$110 million ($100 million) would get this company to 50% ownership, but to do so would cause undue financial strain.
"We structured this transaction so we would not have to bet the farm. If they want to define betting the farm, that would take us certainly close to that rather intangible statement," Asper told CRTC chairman Konrad von Finckenstein.
During two days of hearings into the proposed deal, CRTC commissioners expressed concern that CanWest proposed to retain a 64% voting interest in a new broadcast joint venture comprising Global Television and Alliance Atlantis' cable channels, despite the fact that takeover partner Goldman Sachs is financing most of the CAN$1.4 billion ($1.37 billion) takeover price.
- 11/21/2007
- The Hollywood Reporter - Movie News
TORONTO -- Canadian broadcaster CanWest Global Communications on Friday said it has received the green light from Australian regulators to grab a controlling stake in domestic broadcaster Ten Network.
Winnipeg, Manitoba-based CanWest said that Australia's Foreign Investment Review Board okayed its plan to convert a 56% holding in Ten Network Holdings Ltd. into ordinary shares in Ten Network.
The move to convert about 14.4% of TEN's ordinary shares and certain convertible debentures follows CanWest Global's July decision to abandon plans to sell off its controlling stake in the Australian broadcaster.
Spinning off the Network TEN stake was expected to help ease CanWest Global's long-term debt load of CAN$2.7 billion ($2.54 billion).
But Leonard Asper, CanWest Global CEO, said he hopes to complete the conversion of the TEN stake by the end of August and become the broadcaster's majority shareholder, with about 523 million shares.
"Over the past 15 years, TEN has been an extremely successful investment for us and we believe there is still much growth potential to be realized," Asper said, reiterating CanWest Global's faith in the future of the Australian broadcaster.
Winnipeg, Manitoba-based CanWest said that Australia's Foreign Investment Review Board okayed its plan to convert a 56% holding in Ten Network Holdings Ltd. into ordinary shares in Ten Network.
The move to convert about 14.4% of TEN's ordinary shares and certain convertible debentures follows CanWest Global's July decision to abandon plans to sell off its controlling stake in the Australian broadcaster.
Spinning off the Network TEN stake was expected to help ease CanWest Global's long-term debt load of CAN$2.7 billion ($2.54 billion).
But Leonard Asper, CanWest Global CEO, said he hopes to complete the conversion of the TEN stake by the end of August and become the broadcaster's majority shareholder, with about 523 million shares.
"Over the past 15 years, TEN has been an extremely successful investment for us and we believe there is still much growth potential to be realized," Asper said, reiterating CanWest Global's faith in the future of the Australian broadcaster.
- 8/18/2007
- The Hollywood Reporter - Movie News
TORONTO -- Canadian broadcaster CanWest Global Communications said Wednesday that longtime executive Peter Viner, known as the company's go-to-guy for turning around loss-making divisions, is retiring.
"We want to sincerely thank Pete for his passion and dedication to CanWest. We are fortunate that we will continue to benefit from his experience and intellect through his ongoing involvement with CanWest," CanWest Global president and CEO Leonard Asper said of Viner, who will continue to serve as an adviser.
Viner first joined Winnipeg, Manitoba-based CanWest Global in 1974 and, with the exception of a brief stint at a rival broadcaster, has held senior positions with the company ever since.
"When you buy a company that's 14,000 kilometers away, you'd better be sure you send someone you trust to run it," company founder Izzy Asper told the Financial Post newspaper in 1994 after sending Viner to head up newly acquired Network TEN in Australia.
In 1997, when the elder Asper chose to step back from the day-to-day running of the company to become executive chairman, he appointed Viner president and CEO of the broadcaster until his son, Leonard, could assume the post in 1999.
"We want to sincerely thank Pete for his passion and dedication to CanWest. We are fortunate that we will continue to benefit from his experience and intellect through his ongoing involvement with CanWest," CanWest Global president and CEO Leonard Asper said of Viner, who will continue to serve as an adviser.
Viner first joined Winnipeg, Manitoba-based CanWest Global in 1974 and, with the exception of a brief stint at a rival broadcaster, has held senior positions with the company ever since.
"When you buy a company that's 14,000 kilometers away, you'd better be sure you send someone you trust to run it," company founder Izzy Asper told the Financial Post newspaper in 1994 after sending Viner to head up newly acquired Network TEN in Australia.
In 1997, when the elder Asper chose to step back from the day-to-day running of the company to become executive chairman, he appointed Viner president and CEO of the broadcaster until his son, Leonard, could assume the post in 1999.
- 7/19/2007
- The Hollywood Reporter - Movie News
Canadian broadcaster CanWest Global Communications Corp. said Monday that it intends to take control of Ten Network Holdings Ltd. after apparently failing to find a buyer for its 56.4% stake in Australia's Ten Television Network.
"In Australia ... we have determined that retaining our investment in TEN to be in the best interests of our shareholders," Leonard Asper, CEO of Winnipeg, Manitoba-based CanWest Global said in a statement.
His announcement was preceded by shares in Ten Network Holdings Ltd. being suspended from trading on the Australian Stock Exchange following media reports that Can West Global has been unable to find a buyer for its majority stake in Ten.
CanWest initially announced in October that it was considering selling its 56.4% stake in the No. 3-ranked Australian network.
Without giving details on the sales process, Asper confirmed it had been abandoned in favor of CanWest Global retaining a majority voting equity interest in the broadcaster by exercising its right to exchange its ordinary shares and convertible debentures of TEN into ordinary shares of Ten Network Holdings Ltd.
Media reports Monday suggested that talks with possible buyers, including private equity firms Blackstone Group and the Carlyle Group collapsed over price.
"In Australia ... we have determined that retaining our investment in TEN to be in the best interests of our shareholders," Leonard Asper, CEO of Winnipeg, Manitoba-based CanWest Global said in a statement.
His announcement was preceded by shares in Ten Network Holdings Ltd. being suspended from trading on the Australian Stock Exchange following media reports that Can West Global has been unable to find a buyer for its majority stake in Ten.
CanWest initially announced in October that it was considering selling its 56.4% stake in the No. 3-ranked Australian network.
Without giving details on the sales process, Asper confirmed it had been abandoned in favor of CanWest Global retaining a majority voting equity interest in the broadcaster by exercising its right to exchange its ordinary shares and convertible debentures of TEN into ordinary shares of Ten Network Holdings Ltd.
Media reports Monday suggested that talks with possible buyers, including private equity firms Blackstone Group and the Carlyle Group collapsed over price.
- 6/19/2007
- The Hollywood Reporter - Movie News
TORONTO -- The Canadian media promises blanket coverage as Canadian media baron Conrad Black goes on trial Wednesday in the Chicago Federal Court on charges of fraud, corruption and racketeering.
The CTV national TV network is timing the launch of new nightly TV magazine show "The Verdict" to the trial's start and Toronto Life, a monthy magazine, is said to be preparing a Web site that will follow every nuance of the trial.
Black, the flamboyant owner of the Chicago Sun-Times and Britain's Daily Telegraph newspapers before his media empire began unravelling in 2003, faces an eight-count indictment for conspiring with former business associates to divert $83 million from his former Hollinger International newspaper groups for his personal use.
Those funds were allegedly received from the buyers of Hollinger newspaper titles. Among the possible witnesses in the Black trial will be Leonard Asper, CEO of CanWest Global Communications Corp., who bought a slew of Canadian newspaper titles from Hollinger in 2000.
The CTV national TV network is timing the launch of new nightly TV magazine show "The Verdict" to the trial's start and Toronto Life, a monthy magazine, is said to be preparing a Web site that will follow every nuance of the trial.
Black, the flamboyant owner of the Chicago Sun-Times and Britain's Daily Telegraph newspapers before his media empire began unravelling in 2003, faces an eight-count indictment for conspiring with former business associates to divert $83 million from his former Hollinger International newspaper groups for his personal use.
Those funds were allegedly received from the buyers of Hollinger newspaper titles. Among the possible witnesses in the Black trial will be Leonard Asper, CEO of CanWest Global Communications Corp., who bought a slew of Canadian newspaper titles from Hollinger in 2000.
- 3/14/2007
- The Hollywood Reporter - Movie News
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