Canwest takes whopping $1 billion write down
14 Nov 2008
Canadian publisher and broadcaster Canwest Global has taken a whopping $1.01-billion write down on its Canadian television operations, citing dire expectations for advertising revenues to come. The loss reversed a year-earlier profit of $197 million.
Stripping out the impact of the write down and other charges, Canwest reported an adjusted loss of $38 million in the quarter, actually