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Torstar/Fairfax, cash at hand, leads CanWest bidding


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http://www.theglobeandmail.com/report-on-business/torstar-cash-at-hand-leads-canwest-bidding/article1542453/

Sources indicate a bid that includes newspaper owner Torstar Corp. is now emerging as a favourite, since it is expected to involve more cash than other offers.

 

The publisher of the Toronto Star and 97 other Ontario papers is backed by the deep pockets of Fairfax Financial Holdings Ltd., which owns 19 per cent of Torstar.

 

Torstar would come aboard as the operator of the CanWest papers, but would limit its exposure by contributing a relatively small amount of its own money, while relying on the financial muscle of Fairfax, the insurance company headed by Prem Watsa.

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