Adbusters

Canada's Media Mogul Goes Bankrupt

Hey Leonard Asper: You still owe Adbusters $15,000!
 

When Canwest – Canada’s largest media conglomerate and Adbusters’ longtime adversary – filed for court protection against creditors earlier this month, the company left a lot of people high and dry. In addition to the long line of creditors the company is trying to default on, dozens of recently laid off employees will lose their promised severance packages, 80 non-union retirees will lose their health benefits and 120 former employees are facing reduced pensions.

Oh well, times are tough. Everybody’s taking a hit right now, right?

Wrong. Three Canwest directors, four top executives and 13 other senior members of Canwest management will PROFIT from this mess, splitting $9.8 million in Key Employee Retention Plan bonuses. That’s in addition to their already exorbitant salaries. So in one of the most baffling phenomena to come out of this current economic crisis, the very execs who drove the company into the ground are being paid millions of dollars to stay. Everyone else is simply out of luck.

This outrage is the latest hurdle in our protracted battle against Canwest and would-be media mogul Leonard Asper. We’ve been fighting Leonard in court for years, battling for the right of Canadian citizens to access their own public airwaves under the same rules and conditions as corporations and ad agencies do. It’s been a long, hard and expensive fight but finally, last April, a BC Court of Appeals overturned previous rulings and declared that television airtime may indeed constitute the “public space” we have claimed it to be. The ruling cleared the way for us to move forward against media corporations like Canwest that refuse to sell airtime for citizen-produced messages.

Canwest fought back with a technical challenge. They knew they couldn’t defeat us on the principle of free speech so they went after our pocketbook, hoping to tie us up in nonsense litigation and deplete our modest coffers. But in September, we won again. The Supreme Court of Canada dismissed Canwest’s challenge and gave us the green light to pursue our case in the lower courts. The courts also ruled that Canwest is liable for a portion of Adbusters’ legal costs.

But suddenly Canwest is out of money. And Adbusters joins the ranks of employees and creditors the media giant is refusing to pay. But we’re looking at the bright side of things … it seems Asper’s media empire (the one he inherited from daddy) is beginning to crumble. And any blow against his biased, autocratic rule is worth the money. With Conrad Black in jail and Asper on the run, we may finally be on the road to ending media tyranny in Canada once and for all!

For the Wild, Kalle

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16 comments on the article “Canada's Media Mogul Goes Bankrupt”

Displaying 1 - 10 of 16

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McLarry

Definitely time for a revolution. Not just here in the States, but the rest of the world as well. Corporations, Banks, etc... have become so manipulative in politics and (de)regulation for nothing other than greed that benefits absolutely no one except a very small few. It just baffles me when others come to these people's defense saying it's 'free market', 'capitalism', whatever while their and their families feet are being kicked out from underneith them. The police protect these people until their factories are shipped overseas and the communities are left bare, bankrupt and with zero tax base and eventually even the police are out of work.
Wall Street, corporations, The Fed and even our current political systems have run their course. It's time to rid the planet of these parasites and move on to the next phase.

Power is boring.

Flame on...

McLarry

Definitely time for a revolution. Not just here in the States, but the rest of the world as well. Corporations, Banks, etc... have become so manipulative in politics and (de)regulation for nothing other than greed that benefits absolutely no one except a very small few. It just baffles me when others come to these people's defense saying it's 'free market', 'capitalism', whatever while their and their families feet are being kicked out from underneith them. The police protect these people until their factories are shipped overseas and the communities are left bare, bankrupt and with zero tax base and eventually even the police are out of work.
Wall Street, corporations, The Fed and even our current political systems have run their course. It's time to rid the planet of these parasites and move on to the next phase.

Power is boring.

Flame on...

Lloyd Pitcher

It's CHUTZPAH, people...CHUTZPAH! Look it up! But as with most of these situations, when two Jewish media moguls like Conrad Black and Leonard Asper get in trouble, two more fill the void.

And McLarry, I agree with you "Democratic Free Market Capitalism" is a joke. Hopefully someone will kick this "Jewish Corptocracy" in the ass!

Lloyd Pitcher

It's CHUTZPAH, people...CHUTZPAH! Look it up! But as with most of these situations, when two Jewish media moguls like Conrad Black and Leonard Asper get in trouble, two more fill the void.

And McLarry, I agree with you "Democratic Free Market Capitalism" is a joke. Hopefully someone will kick this "Jewish Corptocracy" in the ass!

McLarry

Without going off on a Jewish Conspiracy tangent, another big irk for me is that the majority of our (US) legislative process now revolves around these corporations that are causing all of this harm. Instead of making any sort of progress with humanity itself, politics has become so engrossed with lobyists actions to benefit corporations and then at the other end politicians become engrossed with dealing with all the negative repercussions of the legislature they voted on and approved in favor of these corporations when things go sour. And it's all just a matter of time before any corporation is ensnarled in either anti-trust, bankruptcy, fraud, environmental disasters, insider trading, you name it. The very nature of a corporation is based around greed, both within the company and the demands of it's shareholders who expect ever increasing returns on their investments. They don't care how it's done so long as their pocket books benefit. This has all come at the expense of free speech and human rights. This article exemplifies it all.

Again, time to start stringing CEO's up by their necks. Level Wall Street and turn it into a playground. The world existed just fine before it came about.

Feel free to defend these companies and contribute to your own inadequacy....

McLarry

Without going off on a Jewish Conspiracy tangent, another big irk for me is that the majority of our (US) legislative process now revolves around these corporations that are causing all of this harm. Instead of making any sort of progress with humanity itself, politics has become so engrossed with lobyists actions to benefit corporations and then at the other end politicians become engrossed with dealing with all the negative repercussions of the legislature they voted on and approved in favor of these corporations when things go sour. And it's all just a matter of time before any corporation is ensnarled in either anti-trust, bankruptcy, fraud, environmental disasters, insider trading, you name it. The very nature of a corporation is based around greed, both within the company and the demands of it's shareholders who expect ever increasing returns on their investments. They don't care how it's done so long as their pocket books benefit. This has all come at the expense of free speech and human rights. This article exemplifies it all.

Again, time to start stringing CEO's up by their necks. Level Wall Street and turn it into a playground. The world existed just fine before it came about.

Feel free to defend these companies and contribute to your own inadequacy....

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