It looks like the end may be near for Global as we know it. Today, Moody's downgraded the bonds of Global's parent company, Canwest Global Communications -- with Moody's saying that Global may not be able to make a $30.4 million interest payment tomorrow. Although the company says it has extended the deadline on some of its debt to April 21st, it's quite possible that in a little more than a week the once mighty Fox Lite could be petitioned into bankruptcy.
For most other families, I'd probably feel bad -- but not for the Aspers who got too big way too fast and at absolutely the wrong time. And quite frankly, a Canadian version of ET does not exactly cut the grade for CANCON for most of us Canadians even if it does meet the rules just barely.
Here's an idea: How about another public network, but one that's community operated rather than by corporate interests who decide willy nilly when to shut down local newscasts? And it could act as a balance between the definitely right-wing CTV and the usually left-leaning CBC. It could work, if some smart people were involved.
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