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Canadian Media Could Get a Bailout

March 19, 2009 7:02 AM | News

CTV - Canwest - QuebecorBetween CTVglobemedia, Canwest and the Quebecor, Canada’s private media outlets have been sinking deeper financially with each passing day. On Wednesday, the Harper government said it would consider helping troubled private TV broadcasters, including looser regulations and tax changes.

Heritage Minister James Moore specifically singled out Canwest Global in an interview with The Canadian Press, saying the government is looking to help them out of teetering on the edge of bankruptcy.

All three companies have been lobbying Ottawa for a while to provide help. Canwest hired a former senior adviser to Harper to help with its lobbying efforts.

Industry and government sources say discussions are going on at the highest levels on how to help avoid the closure of more local stations due to the tough economic times.

As for the publicly-funded CBC, the government said last week it would not be providing additional funding to them.

— With files from The Canadian Press