CoolTV will play final note in July

Cable jazz channel launched in 2003

TORONTO -- Canadian broadcaster CanWest Broadcasting said Monday that CoolTV, Canada's jazz cable channel, will fade to black on July 21.

CoolTV launched in 2003 at the urging of CanWest founder and jazz fan Israel Asper. The decision to pull the plug comes after the broadcaster said it conducted a periodic review of its TV assets to determine "which have the most potential for growth."

Stock in parent CanWest Global Communications on Monday traded late morning up CAN$0.02 to CAN$3.48 ($3.38), well down from the CAN$10 ($9.75) mark last summer.