Winnipeg, Canada – Canwest Limited Partners, the publisher
of Canada’s
National Post that filed for bankruptcy last fall, has agreed to be acquired by
a group of creditors in a deal valued at $1.1 billion.

Canwest noted that the
bid from the creditor group will maintain all existing newspaper operations,
and "will provide continuing employment to all existing full time
employees and substantially all part time employees."

The group named National
Post president Paul Godfrey as president and CEO of the new company, which it
expects will be publicly-traded.


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