Asper family bids for Canwest Newspapers

Posted by Erina Lin on March 11, 2010 at 4:04 PM

The Asper family, former controller of Canwest Global Communications Corp., is trying to regain control of the newspaper assets, Bloomberg reported.

The family one of six bidders. Others include B.C. newspaper magnate David Black, Vancouver-based community newspaper publisher Glacier Media Inc. and National Post executive Paul Godfrey, the Globe and Mail reported.

CanWest newspaper unit filed for bankruptcy in January.

Bids for the unit were due March 5. According to the Globe, Canwest's creditors have been reviewing all the offers since then. The creditors are looking for at least C$950 million (US$925 million) for the business.