Canwest debt deadline extended to March 11

Canwest’s looming debt repayment deadline, which was such big news it made the New York Times, has been extended to March 11, the company announced less than an hour ago.

Canwest remains optimistic that it can renegotiate the $112-million chunk of its $3.7 billion debt, and emphasizes that its assets are profitable despite the media and economic crisis.

Employees, while certainly interested in the financial health of their parent company, are somewhat detached from the situation. Even if Canwest were to declare bankruptcy (which isn’t a given even if it defaults on its loan), the newspaper would still go on, at least in the short term.

2 thoughts on “Canwest debt deadline extended to March 11

  1. Pingback: Fagstein » Canwest sells The New Republic

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