Canwest Global Communications has reached a deal with its lenders to extend talks until April 21. Hopefully the third time is a charm for the Winnipeg-based broadcaster, as two previous deadlines have come and gone.
The media company owes CAN $3.9 billion as it continues to dig itself out from under declining ad revenues.
Canwest shares remained unchanged at closing time Tuesday at 29 cents a share on the Toronto Stock Exchange.
Last month, Canwest gave a stay of execution to its five E! branded channels until the end of the summer after previously threatening to shut them down if it couldn’t find a buyer this spring.
— With files from The Canadian Press