Canwest Global Communications denied Australian reports it has begun to shop its controlling stake in Network Ten to potential buyers. Canwest spokesman John Douglas said the March 16 report in the Australian Financial Review was ‘sheer speculation’ and that the Winnipeg-based broadcaster will remain an investor in the network and

the Australian TV market.

The report said Canwest was looking to raise $258 million by shopping its 56.6% stake in Network Ten, and that current minority stakeholders like Commonwealth Bank and 452 Capital were being sounded out on possible bids.

‘Lots of people are trying to put deals together. A really good deal sells itself around a board table. It doesn’t need to be played out in the press,’ said Douglas.