CANWEST'S AUSTRALIAN INVESTMENT ACQUIRES INTEREST IN BROADCASTING COMPANY.WINNIPEG, MANITOBA--(BUSINESS WIRE)--May 17, 1995--The Ten Group Limited, owners and operators of Network Ten in Australia, in which Winnipeg-based CanWest Global Communications CanWest Global Communications Corp. TSX: CGS TSX: CGS.A NYSE: CWG is one of Canada's largest international media companies. The company's head office is situated in Winnipeg, Manitoba, at the tallest building (CanWest Global Place) in the city and it is on the Corp. maintains a 57.5 percent economic interest, has purchased 11.3 percent of Southern Cross Broadcasting Southern Cross Broadcasting (Australia) Limited (ASX: SBC) is a diversified Australian media company, that owns and operates a variety of media businesses, primarily radio and television. Limited. Southern Cross Broadcasting owns the Network Ten affiliate stations serving the regional areas of Victoria and southern New South Wales New South Wales, state (1991 pop. 5,164,549), 309,443 sq mi (801,457 sq km), SE Australia. It is bounded on the E by the Pacific Ocean. Sydney is the capital. The other principal urban centers are Newcastle, Wagga Wagga, Lismore, Wollongong, and Broken Hill. (including Canberra), and Southern Cross Television Southern Cross Television, or Southern Cross, is an Australian television network available in Tasmania, Darwin, Regional South Australia, and Central Australia. Although the programming varies from region to region, all areas are affiliated with the Seven Network and, in Network in Tasmania. Southern Cross also owns radio stations in Melbourne and Perth. "This investment by the Ten Group in Southern Cross Broadcasting is a continuation of its strategy to invest in well managed television operations affiliated with Network Ten," said I.H. Asper, Chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of CanWest Global, and a member of Network Ten's Board of Directors. The Ten Group owns and operates Network Ten in Sydney, Brisbane and Melbourne. In addition, the Group owns 50 percent of Capital Television Holdings Limited (which owns Ten affiliate stations in Perth and Adelaide), and 11 percent of Telecasters Australia Limited the Ten affiliate in northern New South Wales and regional Queensland. CanWest operates the CanWest Global System in Canada and has significant broadcast interests internationally. CONTACT: Tom Strike Executive Vice-President Business Development & CFO See Chief Financial Officer. 204/956-2025 Fax: 204/947-9841 INDUSTRY KEYWORD: COMED COMPUTERS/ELECTRONICS REPEATS: New York 212-575-8822 or 800-221-2462; Boston 617-330-5311 or 80 |
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