Tuesday, 15 May 2007
Canwest Mediaworks (NZ) Receives Takeover Notice
CanWest MediaWorks (NZ) Limited has received a takeover notice from HT Media (a wholly owned subsidiary of Ironbridge
Capital). As per NZX rules, a copy of the notice has been sent to the NZX and the Takeovers’ Panel. The document
contains the terms of a conditional offer, under the New Zealand Takeovers Code, to purchase all of the shares in
CanWest MediaWorks (NZ) Limited.
The board has appointed a committee of independent directors comprising David Jackson (Chair), Susan Sheldon and Craig
Thompson to oversee all aspects of CanWest MediaWorks’ response to the offer. The board has also retained Grant Samuel
to prepare an independent adviser’s report on the merits of the offer.
Board Committee Chair David Jackson commented: “The next step in this process is for HT Media to issue the takeover
offer to shareholders and optionholders by 15 June. Within that same time frame our independent directors’ committee
will make a recommendation to shareholders and optionholders in respect of the takeover offer, taking into account the
independent adviser’s report.”
CanWest MediaWorks (NZ) Limited (NZX: MWL) (website: www.mediaworks.co.nz) is New Zealand’s leading private sector
broadcast media company.
Through its wholly owned subsidiaries, CanWest TVWorks Limited and CanWest RadioWorks Limited, it owns and operates the
TV3 and C4 television networks, national radio brands The Edge, The Rock, More FM, Kiwi FM, RadioLIVE, Radio
Pacific/Radio Trackside, Solid Gold and The Breeze, plus several local radio stations. CanWest MediaWorks NZ Limited is
a majority owned subsidiary of CanWest Global Communications Corp. (www.canwestglobal.com), (TSX: CGS and CGS.A, NYSE:
CWG), an international media company and Canada’s largest media company.
CanWest is Canada’s largest publisher of daily newspapers and also owns, operates and/or holds substantial interests in
conventional television, out-of-home advertising, specialty cable channels, web sites and radio stations and networks in
Canada, New Zealand, Australia, Turkey, Singapore, Indonesia, Malaysia, the United Kingdom and the United States.
ENDS