CanWest increases AAC stake

CanWest MediaWorks has boosted its stake in Alliance Atlantis Communications by 29% from $132 million to $200 million, directing the added cash to AAC’s lucrative TV broadcasting division.

‘This is consistent with our ongoing commitment to enhance our existing television business by expanding in the specialty television sector,’ said CanWest president and CEO Leonard Asper in a release.

On Friday, the Winnipeg-based CanWest said it had informed partner Goldman Sachs of its plans to increase its investment in the $2.3-billion purchase of AAC, which was announced Jan. 10.

AAC owns 13 specialty channels and has a 50% interest in the CSI: Crime Scene Investigation franchise.