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Left-wing Canadian Media empire faces bankruptcy

Posted by EU Times on Apr 20th, 2009 // No Comment

The left-wing media empire of Israel “Izzy” Asper, which dominates Canadian media, is facing bankruptcy.

Israel Asper served as the leader of the Canadian Liberal Party in Manitoba in the 70’s and served in the Manitoba Legislature from 72-75. The media empire he founded, CanWest, is often cited as one of the worst examples of centralized media ownership in the Western World. Aspers three children, Leonard, Gail, and David serve as CEO/President, Corporate Secretary, and Executive Vice President.

CanWest owns the major Canadian television network Global, the minor network E!, Canada’s largest wire service, and a massive portfolio of Canadian newspapers. In fact the name Asper is synopsis with Canadian newspapers.

Canwest 4c logo

It has been widely publicized that the Aspers are supporters of the Israel Likud party and mandate a pro-Israel and pro-Likud bias in their papers. However little is said about what other political bias the Asper family mandates. Canadian newspapers owned by the Asper empire are rabidly left-wing. In fact the Asper newspapers are probably as bad or worse than some of the worst examples in the US.

The dramatic downturn in newspaper readership in the US is also effecting Canada. The newspapers themselves blame it on the economy and never mention that many people are simply refusing to pay money for their left-wing trash any more.

Now CanWest just posted over a Billion dollar quarter lose. Their stock has steadily fallen from $15 a share in 2005 to $.40 today.

CanWest now has $4 Billion in debt and there is speculation that bankruptcy could be next.

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