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Canwest stock is down to 39 cents today

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daleo Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Feb-18-09 12:05 PM
Original message
Canwest stock is down to 39 cents today
I can't see this going on much longer.
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Spazito Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Feb-18-09 12:57 PM
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1. Wow! I have not been watching the numbers...
Do you know why their stock has dropped so low?
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daleo Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Feb-18-09 01:07 PM
Response to Reply #1
2. They have a huge amount of debt
Related to previous acquisitions. I believe this debt is coming due soon, at a fairly high interest rate. Combine that with falling ad revenues due to the recession, and they are in a vicious spiral.

On a deeper level, I think the Aspers took the position that the public would have to buy their product, regardless of how biased it became. I think they miscalculated on that one.

It is interesting that the National Post hasn't made a dime in its history, yet it is still being funded by a nearly bankrupt company.
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Spazito Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Feb-18-09 01:13 PM
Response to Reply #2
3. Ahhh, that makes sense....
I hope you are right and that the public will increasingly avoid anything put out by Canwest as it is currently structured. The harper cabal and it's accolades will certainly miss having Canwest as their mouthpiece if it disappears.
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