Source : The Calgary Herald

CanWest Global Communications Corp. chief executive Leonard Asper said
Thursday the country's largest media company is not itching to make a major
acquisition.

Instead, the Winnipeg-based broadcaster and newspaper publisher is intent on
developing new businesses -- such as book publishing as well as DVD and CD sales -- and improving its television operations overseas and its Global Television Network in Canada.

"Our preference is that nothing happens, quite frankly," with regards to
acquisitions, Asper told reporters following the company's annual meeting in
Toronto. "We're quite happy to continue to operate our businesses and look for growth within them because we think there's lots of growth.

"We could be a player and we do have debt capacity" for acquisitions, he
said. "Our preference is not to use it on acquisitions of other mature media
businesses."

Asper's comments are in stark contrast to aggressive and acquisitive statements he made following CanWest's annual meeting last year.

Last year was expected to be the time of long-awaited media consolidation, a
development that never materialized, and Asper said Thursday he doesn't expect a flurry of deals this year either.

"A few other people like Ian Greenberg (president and CEO of Montreal's
Astral Media Inc.) and others have said there are lots of buyers and no sellers.  I don't see anything that will change that," he said.

"There might be some pressure coming over time (spurring media deals), not
necessarily in '05, but into '06 and '07, for people to find other ways to grow their businesses," said Asper. "We think we can be a player, we don't think we have to be a player. We are going to be very disciplined about pricing, we don't feel that we have to pay the kind of multiples that the market expects to grow our businesses."

One of CanWest's main Canadian tasks will be to restore its Global Television
Network to its accustomed ratings leadership position that it relinquished to
BCE Inc.-controlled CTV network a couple of years ago.

Asper shot down a January report by an Australian newspaper that CanWest was
selling its holding in Ten Network. "We haven't had Ten for sale ever really,
and certainly it is not true -- somebody reported we had been shopping it around Australia, but that is not true."

The CanWest chief executive said he has not made a decision regarding
converting the company's stable of newspapers, which include titles such as the National Post, Montreal Gazette and Calgary Herald, into an income trust.

CanWest shares fell 28 cents to $14.90 on the Toronto Stock Exchange
Thursday. CanWest shares have risen 65 per cent over the past year on the
strength of debt reduction, stronger-than-expected overseas earnings and the
prospect of a newspaper income trust.

© The Calgary Herald