Is CanWest Still Canadian? Was It Ever Really?

OTTAWA, Aug. 4 /CNW Telbec/ - Prime Minister Stephen Harper needs to assure Canadians that the country's largest media company has not fallen under foreign control, says Canada's largest media union.

[...]

"When Canwest Global purchased Alliance Atlantis, it barely reached the Canadian ownership threshold by including all of its broadcast operations in the deal - but since the value of those assets has now dropped so sharply, it's clear that Canwest's U.S. debt holders may now be calling the company's shots," explains [Peter Murdoch, Vice-President, Media for the Communications, Energyand Paperworkers Union].

[...]

"But Parliament has demanded that our communications media remain inCanadian hands, to ensure our sovereignty and security. Canadian newspapers receive tax breaks and Canadian broadcasters benefit from many regulatory incentives, all to promote Canadian ownership.

"Since Canwest's existence hinges on the consent of its major creditors -largely foreign - CEP's concern is that control of the company has de factoshifted to non-Canadians already - a situation that requires federalgovernment intervention.