Cash-strapped Canwest Global Communications has secured another two weeks to reach agreement on a recapitalization plan with its U.S. bondholders.

The broadcaster says talks between subsidiary Canwest Media and the 8% noteholders will now continue to June 30.

This marks the latest extension for Canwest Global as it juggles $4 billion in debt and looks to stave off bankruptcy protection.

The broadcaster recently received $175 million in new financing to remain in business as it sells off assets, cuts costs and seeks a wider restructuring by Oct. 15.