Canwest directors Gail Asper, David Asper and Lisa Pankratz resign

By Caroline Salls

Pittsburgh, Feb. 10 - Canwest Global Communications Corp. said Gail Asper, David Asper and Lisa Pankratz have resigned from the company's board of directors and all other director and officer positions.

According to a company news release, the directors cited their desires to pursue other business commitments and charitable initiatives, as well as to help Canwest reduce the size of its board.

Chairman of the board Derek Burney said these director positions will not be filled in light of the company's court-supervised restructuring.

Burney said Canwest has entered into consulting agreements with the Aspers, which will expire on the earlier of six months or Canwest's emergence from Companies' Creditors Arrangement Act protection.

The company said president, chief executive officer and director Leonard Asper will continue to serve in those positions.

Remaining board members Burney, David Drybrough, David Kerr and Margot Micallef are independent directors actively involved in the company's financial restructuring activities, the release said.

Canwest Global is a Winnipeg, Man.-based media company that filed for Chapter 15 bankruptcy on Oct. 6 in the U.S. Bankruptcy Court for the Southern District of New York. Its Chapter 15 case number is 09-15994.

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