As Canwest Global Communications on Friday secured another extension from ever-patient lenders, it cleared another hurdle to a conditional sale of CHCH in Hamilton.

Unionized employees at the E!-branded station approved a one-year collective agreement with new owner Channel Zero, with CEP Local 100 filing a complaint with authorities over Canwest Global’s plans to wind up the current pension plan.

Channel Zero will introduce a new benefits package for around 120 CHCH employees who are to launch an all-news and local programming format at the Hamilton station.

‘We think Channel Zero’s commitment to local news and local programming is the right strategy and we trust this transaction will benefit employees, the company and the community,’ Bob Huget, CEP’s Ontario VP, said in a statement.

Canwest Global in June unveiled a deal to sell CHCH and CJNT in Montreal to Channel Zero.

The CRTC will take up the change of ownership application on Aug. 24. Pending regulatory approval, Canwest and Channel Zero have until Nov. 10 to close the deal.

Also Friday, Canwest Global’s U.S. bondholders and senior lenders extended a deadline with subsidiary Canwest Media to produce a recapitalization plan and avoid bankruptcy protection from July 31 to Aug. 14.

Canwest Global has received a series of debt talk extensions as its lenders hold out for the broadcaster’s assets or its debt to be purchased by strategic buyers at higher than fire-sale prices.

Late Monday, Canwest Global also said it will cut its stake in Ten Network Holdings, its Australian broadcast asset, with an equity offering to raise around $123 million.