Canwest Media recapitalization deal deadline extended to June 30

By Caroline Salls

Pittsburgh, June 15 - Canwest Media Inc.'s 12% senior secured noteholders and revolving asset-based facility lender have agreed to extend the company's recapitalization transaction deadline to June 30 from June 15, according to a company news release.

Specifically, Canwest Media has until June 30 to reach an agreement in principle with members of an informal committee of 8% noteholders on a recapitalization transaction.

In addition, the members of the informal committee have agreed to extend the company's forbearance agreement to June 30.

Canwest Media is a subsidiary of Winnipeg, Manitoba-based media company Canwest Global Communications Corp.

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