|
Attention News Editors
Tentative Settlement Reached in Canwest Copyright Lawsuit
WINNIPEG, June 14 /CNW/ - Canwest Global Communications Corp. announced
today that a settlement has been reached between freelance writer Heather
Robertson and Canwest Publishing Inc. ("Canwest"), which filed for creditor
protection in January of 2010, in a class action lawsuit concerning electronic
rights of freelance writers. The proposed settlement is subject to court
approval.
Under the terms of the proposed settlement, the value of the claims
advanced by Heather Robertson against Canwest in the insolvency claims process
is set for voting and distribution purposes at $7,500,000.00. In exchange,
Heather Robertson will vote in favour of a Plan of Arrangement in the Canwest
Publishing Inc. insolvency proceeding, and members of the Class will grant a
license and release in respect of their freelance works to Canwest Publishing
Inc.
The Plaintiff will share pro rata to the extent of the Settlement Amount
with other affected creditors of the LP Entities in the distributions to be
made by the LP Entities, if any. On May 21, 2010 the LP Entities filed with
the Court a proposed Plan of Compromise and Arrangement which contemplates
certain distributions to affected creditors of the LP Entities. Details of
such distributions, as well as the conditions precedent to Plan implementation
(including creditor and court approval), are contained in the proposed Plan of
Compromise and Arrangement, Management Circular and the Eighth Report of the
Monitor, copies of which are available on the Monitor's website for the CCAA
Proceedings.
The settlement does not terminate Heather Robertson's lawsuit against the
remaining defendants in her copyright class action against Proquest
Information and Learning LLC, CEDROM-SNI Inc., Toronto Star Newspapers Ltd.,
and Rogers Publishing Limited.
On June 16, 2010, Heather Robertson and Canwest will seek the Court's
approval of the proposed settlement.
Further information concerning the proposed settlement can be found
obtained on the Court appointed Monitor's website, at
http://cfcanada.fticonsulting.com/clp/, or by calling the Monitor, toll free,
at 1-888-310-7627, or on the website of Koskie Minsky LLP at www.kmlaw.ca, or
by calling Koskie Minsky LLP at 1-866-777-6343.
About Canwest Global Communications Corp.
Canwest Global Communications Corp. (www.canwest.com), (TSX-V: CGS and
CGS.A) is Canada's largest media company. In addition to owning the Global
Television Network, operating 18 industry-leading specialty channels and
having ownership in 5 specialty channels, Canwest is Canada's largest
publisher of English-language paid daily newspapers and owns and operates more
than 80 online properties.
-30-
/For further information: Media Contact: John Douglas, Senior Vice
President, Public Affairs, Tel: (204) 953-7737, jdouglas@canwest.com; Investor
Contact: Hugh Harley, Director, Investor Relations, Tel: (204) 953-7731,
hharley@canwest.com/
|
COMMUNIQUÉS DE PRESSE