Canwest is having problems with creditors itself. The company is carrying roughly $4 billion of debt.
Canwest is also considering selling five TV stations and has agreed to sell its stake in sports broadcaster Score Media.
The company owns a chain of daily newspapers in Canada. It also owns the Global network.
Analysts have said Canwest could file for bankruptcy protection, but the company thus far has continued to negotiate with creditors rather than involve the courts.
Fans of the Score Network don’t have to fear that its going anywhere.
” We’re not going anywhere,” Chris Suppa, a producer for the Score told Digital Journal.
“Regarding the stock, it’s great for the company long term, being able to invest in ourselves, it makes us stronger. Not many media companies can say they’re experiencing stability, much less growth, but we are,” Suppa said.
The total number of shares that Canwest sold back to Score was 16 million shares.