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CanWest puts E! up for sale

CanWest Global, Canada’s biggest media corporation, is putting its E! TV network up for sale.

According to a report in the Globe and Mail, the network may be shut down if it doesn’t find a buyer in two months.

The report also quotes CanWest CEO Leonard Asper as planning to focus on areas of greatest return: its main TV network, Global Television, and its most profitable cable channels, such as HGTV.

The story did not quote Asper on the future of CanWest’s newspapers. At 8:15 Friday morning, CanWest stock was selling at 49 cents a share, up 7 cents.

Crawford Kilian is a contributing editor of The Tyee.

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