CANWEST GLOBAL COMMUNICATIONS CORP. - NETWORK TEN ANNOUNCES PLAN FOR NEW HEADQUARTERS COMPLEX.WINNIPEG, MANITOBA--(BUSINESS WIRE)--JUNE 20, 1995--CANWEST GLOBAL(TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). , WINNIPEG STOCK EXCHANGE: CWW CWW Compressed Work Week CWW City West Water (Australia) CWW Church Without Walls (various religious organizations) CWW Columbus Water Works (Columbus, Georgia, USA) ) Australia's Network Ten, in which CanWest has a 57.5 percent economic interest, has announced plans for a new A$20 million national headquarters on Sydney's Pyrmont Peninsula. It's a move that will consolidate the media concentration on the city's inner west Peninsula and will deliver a major stimulus to the 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. Government's City West project. Network Ten has contracted to take a 15-year lease for a new 9,300 square metres Noun 1. square metre - a centare is 1/100th of an are centare, square meter area unit, square measure - a system of units used to measure areas building scheduled to start construction this November. When completed in 1997, the total cost, which will include a totally new plant re-fit, will be in excess of A$40 million. The new Network Ten headquarters will represent the first phase of a new 26,000 square metres urban office park to be developed by Capcount Property Trust on Pyrmont Peninsula. Commenting on this new development, I.H. Asper, Q.C., 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, and Deputy Chairman of the Network Ten Board of Directors, said "this is clear evidence of the confidence all of us have in the long term future of conventional television in Australia Television in Australia began on the 16th of September, 1956 in Sydney and has since grown to cover the entire country. Local programming, over the years, has included a broad range comedy, sport, and in particular drama series, in addition to news and current affairs. . "We heartily support these expansion plans, particulary in light of recent acquisitions made by Network Ten in several of its television affiliates and in a post production facility," added Mr. Asper. "We intend to continue to look for opportunities to increase our investment in the South Pacific." Gerry Thorley, General Manager of Network Ten said a key factor in the decision was that Pyrmont provided the Network with a strategic location. "The consolidation of all Sydney staff, facilities and the use of new technology and design will give us an efficient, purpose-built facility with an inviting, flexible and interactive environment," said Mr. Thorley. The new Network Ten complex, designed by Nettleton Tribe Partnership, will be planned over five levels with access from two different streets. A key feature of the building will be its central atrium which will provide a stunning internal environment for staff. CanWest operates the CanWest Global System in Canada, and has significant broadcast interests internationally. CONTACT: I.H. Asper, Q.C. Tel: 204/956-2025 Fax: 204/947-9841 REPEATS: New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of 212-575-8822 or 800-221-2462; Boston 617-330-5311 or |
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