CanWest Global Awarded Licence for New Television Network in New Zealand.WINNIPEG, Manitoba--(BUSINESS WIRE)--Oct. 1, 1996--CANWEST GLOBAL (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :CGS CGS centimeter-gram-second system. CGS or cgs abbr. centimeter-gram-second system. CGS, c.g.s. .S/NYSE: CWG CWG Conversations with God CWG Core Working Group CWG Certification Working Group (WiMAX Forum) CWG Collaboration Working Group CWG Commercial Working Group (TAT-14) ) 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. announced today that its New Zealand New Zealand (zē`lənd), island country (2005 est. pop. 4,035,000), 104,454 sq mi (270,534 sq km), in the S Pacific Ocean, over 1,000 mi (1,600 km) SE of Australia. The capital is Wellington; the largest city and leading port is Auckland. TV3 Network has been awarded a new licence to operate another national free-to-air television network. Scheduled to be on-air in mid-1997, the entertainment-focused channel will broadcast on the VHF (Very High Frequency) The range of electromagnetic frequencies from 30 MHz to 300 MHz. frequency band, thus ensuring that most New Zealand viewers will be able to receive the new signal without making any changes to their existing aerials. I.H. Asper, O.C., Q.C., CanWest's Chairman and Chief Executive Officer, and Chairman of the Board of TV3, expressed confidence in the New Zealand economy's ability to absorb and support the new network: "This initiative will create a new free to air television choice for the New Zealand public and we're confident of an exciting and profitable future for this new network. The success of TV3, coupled with its contributions to the New Zealand economy, have been the impetus Impetus is a stimulus or impulse, a moving force that sparks momentum. Impetus may also refer to:
The new channel initially will broadcast both primetime and daytime Daytime may refer to:
programming seven days a week. "It is designed to provide New Zealand viewers with more programming choice which is alternative to the three existing national networks," Mr. Asper said. "This new network represents the next phase in the business development of TV3 in New Zealand," said Gerry Noble, Vice-President, Operations for CanWest, and a member of the TV3 Board of Directors. "Given the strength of the three state-owned networks in New Zealand, the new VHF service will give CanWest a stronger position when it comes to negotiating program rights and securing large advertising deals. "The new network will be programmed and marketed to enhance TV3's existing business, while benefiting substantially from TV3's existing operating and promotional activities, both of which are critical in the start-up phase of any new television operation," he added. Mr. Noble indicated that CanWest's new network will embark on Verb 1. embark on - get off the ground; "Who started this company?"; "We embarked on an exciting enterprise"; "I start my day with a good breakfast"; "We began the new semester"; "The afternoon session begins at 4 PM"; "The blood shed started when the partisans a multi-million dollar investment program in new and existing transmitting sites to enhance the broadcasting reach and signal quality of the channel. The new channel will have an audience reach of approximately 2.0 million people. Viewers in Auckland, Hamilton, Wellington, Christchurch, and other major population centres will be able to watch the new channel by mid-1997. Ultimately, as frequencies are found, the new network will be extended to smaller centres until it reaches all of New Zealand's 3.5 million viewers. Because of operating efficiencies at TV3, the new network will require only between 25 and 30 new personnel in the operation and on-air departments, which will be based at TV3's broadcasting centre in Auckland. Programming for the new channel will include a combination of new series and programs that have developed a popular following. With the efficiencies and promotion value provided by TV3, it is expected that start up losses will not be material and that the new network will contribute positively to CanWest's earnings in its second year of operation. "We will continue to buy programs that appeal to the key audiences of both networks, thereby giving viewers the maximum choice and variety," Mr. Noble said. "New Zealand's excellent economic performance over the past five years has been a major factor in supporting TV3's spectacular growth since our involvement in late 1991. Earnings at TV3 have grown an amazing a·maze v. a·mazed, a·maz·ing, a·maz·es v.tr. 1. To affect with great wonder; astonish. See Synonyms at surprise. 2. Obsolete To bewilder; perplex. v.intr. 1,666 percent since CanWest's investment and the positive business environment, supported by this government policy, has enabled us to continue our strategy of further enhancing and developing TV3," he added. In addition, TV3's audience share has grown more than 25 percent over the past three years, demonstrating its ability to deliver interesting and entertaining programming that is in demand by the critical 18 to 49 year old market. CanWest Global Communications Corp. (NYSE NYSE See: New York Stock Exchange : CWG and TSE: CGS.S and CGS.A) is a leading international television broadcaster with interests in Canada, Australia and New Zealand. In Canada, the Company owns and operates the CanWest Global System, Canada's largest private sector broadcaster. The Company also owns a 57.5 percent economic, and a 15 percent voting interest Voting interest in business and accounting is a percentage of voting stock owned. This notion is different from economic interest that refers to a percentage of all the equity issued, including preferred stock, warrants, and so on. in Australia's Network Ten, and a 20 percent voting interest (with an option to purchase an additional 30 percent) in New Zealand's TV3. Through these broadcasting operations, CanWest reaches approximately 35.8 million English-speaking people in markets that are estimated to have generated approximately C$4.4 billion in television advertising expenditures in 1995. CONTACT: CanWest Global Communications I.H. Asper, 204/956-2025 204/947-9841 (FAX) or CanWest Global Communications Peter M. Liba Peter Michael Liba, CM, OM (May 10, 1940 - June 21,2007) was a Manitoba journalist and office holder. From March 2, 1999, to June 30, 2004, he served as the lieutenant-governor of Manitoba. , 204/956-2025 204/947-9841 (FAX) |
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