CanWest pledges $600 million to the Canadian Broadcasting System.CALGARY, Alberta--(BUSINESS WIRE)--July 16, 1996--CanWest Communications (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. .A;CGS.S)(OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BULLETIN STOCK:CWGVF)(NYSE NYSE See: New York Stock Exchange :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) ). The licensing of two new CanWest Global System television stations in Calgary and Edmonton will result in an economic contribution to the province of Alberta of more than $190 million in just seven years, and would create over 300 new jobs for Albertans. The CanWest applications, being heard this week in Calgary by the CRTC CRTC Canadian Radio-Television & Telecommunications Commission CRTC Combat Readiness Training Center CRTC Cathode Ray Tube Controller CRTC China Railway Telecommunications Center CRTC Cold Region Test Center CRTC Continuously Regenerated Trap Column , make clear and concise commitments to the prime-time exhibition of Canadian entertainment programming. If licensed, in Alberta alone, the stations would expend $142 million in operations support and stimulate more than $49 million in new program production over the first seven years of the licence term. In the process, 325 new ongoing jobs will be created in the province. "CanWest Alberta will deliver the most substantial commitment in the private sector of television broadcasting toward the production of new Canadian entertainment programming," said Jim Sward, President and Chief Operating Officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. of the CanWest Global System. "After our first seven years in Alberta, we calculate that our overall direct economic contribution to this province will exceed $191 million. "If these applications are approved, over the same seven-year period, an additional $417 million in spending will be generated at the national level over and above CanWest's present substantial spending commitments. Of this amount, $350 million will be targeted to new Canadian entertainment programs," he added. "This will involve employment for 2,000 Canadians in the independent production sector." When combined, as a result of the licensing of CanWest Alberta, the total direct benefits to the Canadian broadcasting industry would exceed $600 million during the first seven years of the licence term. These local and national benefits clearly demonstrate the overall strength of the CanWest applications: "We have purposefully been over-performing against our conditions of licence at all of our CanWest stations for more than three years now so we could arrive here today with our credentials and credibility firmly established," said Sward. "These undeniable benefits to Albertans and Canadians alike clearly underscore this." CONTACT: CanWest Alberta Television Inc. Rick Hetherington, 403/262-2122, (fax) 403/264-9218 |
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