Dennis Skulsky departing Canwest LP
Exec becoming president and CEO of B.C. LionsTORONTO -- Debt-laden Canwest Global Communications Corp.'s newspaper division on Friday saw its president and CEO Dennis Skulsky signal his upcoming departure.
Skulsky is to maintain a hand in the restructuring of the Canwest LP division until April 30, when he will step down.
The Global and Mail newspaper reported Thursday that Skulsky will become the new president and CEO of the Canadian Football League's B.C. Lions, based in Vancouver.
Canwest LP earlier filed for creditor protection and has fielded formal bids for its newspaper and related online assets as part of a sales process led by RBC Capital Markets.
Among the bidders is British Columbia newspaper owner David Black, a consortium led by Toronto-based equity firm Onex Corp. and Paul Godfrey, a former publisher of the National Post, one of the Canwest newspapers up for sale, and the Asper family of Winnipeg, founders of Canwest Global Communications.
The 12 dailies, 26 community newspapers and related assets that are part of Canwest LP have been squeezed by an industry-wide advertising slump.
The sale of Canwest LP will help repay around $1 billion in debt to a consortium that includes Canada's five largest banks.