CanWest Reports Improved Second Quarter Results at Australian Operations

Apr 11, 2001, 01:00 ET from CanWest Global Communications Corp.

    WINNIPEG, MB, April 11 /PRNewswire/ - CanWest Global Communications
 Corp., announced today that Network TEN, Australia, in which the company holds
 a 57.5% economic interest reported reported EBITDA for the second quarter of
 A$38.6 million up 12% from the A$34.5 million recorded in the corresponding
 period in 2000. Revenues for the quarter were A$120.8 million up 13% from the
 results reported for the previous year.
     The second quarter results include earnings from TEN's recently acquired
 60% interest in Eye Corp which contributed A$13.2 million in revenues and
 A$2.3 million to EBITDA for the ten week period since the acquisition on
 December 18, 2000.
     Mr. John Studdy, Chairman of Network TEN, noted that TEN made a sound
 start to the calendar year, both in terms of revenue and ratings, in what is a
 difficult and highly competitive climate. "We ended our first quarter well
 behind our position in 2000 because of the Olympics. To grow television
 revenue and record a solid EBITDA result in the second quarter was a
 reflection of confidence in TEN."
     Earnings (EBITDA) for the six months ended February 28, 2001 were A$92.5
 million, a 9% decline from the A$101.7 million reported for the same period
 last year. Total revenue for the six months was A$268.4 million, down just 1%
 from the previous year. The revenue decline occurred entirely in the first
 quarter and was attributed to the disruptive impact of the Olympic Games on
 traditional viewing patterns at that time. A softening advertising market,
 also a contributing factor, was offset in the second quarter by contributions
 from Eye Corp. Year to date EBITDA was also effected by the costs associated
 with digital transmission.
     TEN also reported a one-time write down of A$28.6 million associated with
 (among other on-line investments) the closure, previously reported, of SCAPE
 Entertainment, its online joint venture investment with Village Roadshow.
     Looking ahead, new programming initiatives about to launch on Network TEN
 and contributions from Eye Corp, as it builds revenue numbers, will help to
 offset the difficult market conditions. "In both television and out-of-home,
 we are poised to take advantage of any recovery in market conditions, as well
 as any successes to come from our investment in local programming," added Mr.
 Studdy.
     CanWest Global Communications Corp. (NYSE:   CWG; TSE, WSE: CGS.S and
 CGS.A; www.canwestglobal.com) is an international media company. CanWest, now
 Canada's largest publisher of daily newspapers owns, operates and/or holds
 substantial interests in newspapers, conventional television, out-of-home
 advertising, specialty cable channels, and radio networks in Canada, New
 Zealand, Australia, Ireland and the United Kingdom. The Company's program
 production and distribution division and interactive media division operate in
 several countries throughout the world.
 
 

SOURCE CanWest Global Communications Corp.
    WINNIPEG, MB, April 11 /PRNewswire/ - CanWest Global Communications
 Corp., announced today that Network TEN, Australia, in which the company holds
 a 57.5% economic interest reported reported EBITDA for the second quarter of
 A$38.6 million up 12% from the A$34.5 million recorded in the corresponding
 period in 2000. Revenues for the quarter were A$120.8 million up 13% from the
 results reported for the previous year.
     The second quarter results include earnings from TEN's recently acquired
 60% interest in Eye Corp which contributed A$13.2 million in revenues and
 A$2.3 million to EBITDA for the ten week period since the acquisition on
 December 18, 2000.
     Mr. John Studdy, Chairman of Network TEN, noted that TEN made a sound
 start to the calendar year, both in terms of revenue and ratings, in what is a
 difficult and highly competitive climate. "We ended our first quarter well
 behind our position in 2000 because of the Olympics. To grow television
 revenue and record a solid EBITDA result in the second quarter was a
 reflection of confidence in TEN."
     Earnings (EBITDA) for the six months ended February 28, 2001 were A$92.5
 million, a 9% decline from the A$101.7 million reported for the same period
 last year. Total revenue for the six months was A$268.4 million, down just 1%
 from the previous year. The revenue decline occurred entirely in the first
 quarter and was attributed to the disruptive impact of the Olympic Games on
 traditional viewing patterns at that time. A softening advertising market,
 also a contributing factor, was offset in the second quarter by contributions
 from Eye Corp. Year to date EBITDA was also effected by the costs associated
 with digital transmission.
     TEN also reported a one-time write down of A$28.6 million associated with
 (among other on-line investments) the closure, previously reported, of SCAPE
 Entertainment, its online joint venture investment with Village Roadshow.
     Looking ahead, new programming initiatives about to launch on Network TEN
 and contributions from Eye Corp, as it builds revenue numbers, will help to
 offset the difficult market conditions. "In both television and out-of-home,
 we are poised to take advantage of any recovery in market conditions, as well
 as any successes to come from our investment in local programming," added Mr.
 Studdy.
     CanWest Global Communications Corp. (NYSE:   CWG; TSE, WSE: CGS.S and
 CGS.A; www.canwestglobal.com) is an international media company. CanWest, now
 Canada's largest publisher of daily newspapers owns, operates and/or holds
 substantial interests in newspapers, conventional television, out-of-home
 advertising, specialty cable channels, and radio networks in Canada, New
 Zealand, Australia, Ireland and the United Kingdom. The Company's program
 production and distribution division and interactive media division operate in
 several countries throughout the world.
 
 SOURCE CanWest Global Communications Corp.