CanWest closes deal to acquire Hollinger International

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TORONTO--CanWest Global Communications has finalized its $2 billion deal to acquire the Canadian newspaper and Internet assets of Hollinger International and some of its affiliates, the largest media deal in Canada's history.

"Completion of this revolutionary and extra-ordinary transaction cements the largest ever media convergence deal and positions CanWest as the country's leader in content and advertising," says Leonard Asper, president-CEO of CanWest, in a statement.

The deal includes thirteen major metro papers,including The Ottawa Citizen and the Montreal Gazette, 126 community newspapers, and and 50% of the National Post, a national newspaper launched just two years ago with great flourish by Hollinger owner Conrad Black.

Copyright November 2000, Crain Communications Inc.

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