Leonard Asper resigns from Canwest
Last Updated: Thursday, March 4, 2010 | 9:49 AM ET
The Canadian Press
Leonard Asper (left), resigned his executive positions with Canwest Global Communications on Thursday. He's shown here with his father and company founder Izzy Asper in 2002.
(Chuck Stoody/Canadian Press)Leonard Asper has resigned as president and CEO of restructuring media company Canwest Global Communications.
Asper, the son of late Canwest founder Izzy Asper, says he's stepping down to avoid any potential conflict of interest as the company sells its assets under a massive restructuring process.
Canwest, based in Winnipeg, owns the Global TV network and a number of major Canadian daily newspapers, including the National Post, the Montreal Gazette and the Ottawa Citizen.
The company has been operating under protection from creditors since last year after it ran into trouble paying down its $4-billion debt.
Calgary cable giant Shaw Communications has struck a deal to take control of Canwest's TV and broadcasting assets, and various suitors have come forward to bid separately for the newspapers.
Asper will continue as a consultant to Canwest until the restructuring process has been completed.
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