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anWest Global Commun- ications Corp. announced Monday the largest trans- action in the history of the Canadian media industry, acquir- ing 100 per cent of the principal metropolitan operations of the Hollinger newspaper chain and all of its Canadian Internet prop- erties, its magazine group, most of the community publishing operations. including the Waterloo Chronicle, and a 5tl- per- cent interest in the National Post. CanWest Global Communications signs $3.5-billion deal with Hollinger Valued at $3.5 billion. the transaction will see the reunion of two of Canada's most successful entrepreneurs. Israel Aspen exec- utive chairman of CanWest, and Conrad Black, chairman of Hollinger Inc. CanWest will pay the Hollinger group $2.2 billion in cash and approximately $600 million m the form of 24,3 million non-voting shares, valued at $25 per share. and 2.7 million multiple voting preferred shares at a premium of $3_75 over the price of the non; voting shares. as consideration for the acquisition of the print and Internet assets, mmx _ mfqttlt8lBBe" "humming“ “I”? I - light: QI'IIQW - “Aidan-Im- Hollinger will acquirea IS-per cent share and just under a mx» percent voting Interest In CanWest. "The merger is a giant step forward in securing a bright future for a vibrant and independent Canadian media sector. It's also a great day for Canadian journalists who will have more opportunities than ever before to tell Canadian stories to Canadians across the country." Looking For a Howl wakin- As well, two Hollmger execu -- Israel Asper Can West putative rhmrman CII 'rtih't.7;li7sii; LsGsor, as OCP2760 sorvPtshnorwrtimr1 Pmmtw 'qgtNtt" Fr-.Arrtmu9. mmwwu: mw‘nmom .xug.sturhrom,Irmui0-tg" rrir-lt'unbt-' WWII hhwlx' ".rthrN_htrtf'"t'"rotit tives, including Black, will join the expanded “person CanWesl board. "This union of Hollinger's pop- ular and profitable Canadian publishing and Internet assets with CanWest's powerful televi- sion broadcasting properties is a tremendous deal for CanWest and its shareholders," said Aspen "The merger is a giant step forward in securing a bright future for a vibrant and independent Canadian media sector. It's also a great day for Canadian journalists who will have more opportunities than ever before to tell Canadian stories to Canadians across the country" "The deal represents a remark- able merger of successful entre- preneurial cultures that can only magnify the prospects ofour joint endeavours." Black added. "The Hollinger print and Internet properties bring to CanWest the proven and extremely valuable additional content. financial, technical and market capacity to enable CanWest to forge ahead on innovative business solutions for advertisers in the non-media environment." In addition to 50 per cent of the National Post, the transaction includes 13 large metropolitan English language dailies; approxi- mately 136 daily and weekly newspapers and shoppers in smaller communities; 85 trade publications and directories in the Southam Magazine and infor- mation group; and all of the Hollinger and Southam Internet properties. In addition to the Chronicle, the deal also includes the Fairway Group's three other publications, the Cambridge Times. the New Hamburg Independent and the Guelph Tribune, Fairway Group publisher Cal Boweld said the deal will provide for the potential of completing a number of natural strategic initia, lives "These moves will further strengthen the individual and col. lective positions of our communi- ty newspapers which should lead to exciting times," he said "I don't anticipate any dramatic opera- Iinnal changes at this point," thtteu'v.gt=2,ttrhgigt,Uga,1tT2"fh"gat 'wplabm 1'Lts"gLtt't,r.'"ru'htltn"d't't, "isi.-.mirti-t2qmttb-tt. _ ae-r-the-mi. H-.%V2r*=.nlm.‘lm ”a...“ m and. pods-Jinn. an... "-r.a'oiei-wtrtt_.ttt-rtmii. - I s29 an... - - Shop q www.bokowirAss.eo PAGE 3 Quakomm l ocn 1w 'Wa‘WM usro2rhro_/sa, blhnnrd" SUI‘WW Map-5744a": Future uncertain for local bar and restaurant owners after court ruling upholds smoking bylaw ome local bar and restaurant Sowners are pondering their futures in the industry after last week's judicial decision to uphold the regionwide smoking bylaw. "We now have to look at some other options and make some deci- sions," said Michael Felber, owner of the Duke of Wellington pub in Waterloo, "And that could be mak ing arrangements where we are, or possibly moving" Feiber. one of over 100 owners who filed a lawsuit against the Region of Waterloo demanding $106 million in damages and a A treeplaming ceremony was held July 27 at Waterloo Park to commemorate Kitchener-Waterloo Career Connections' Hire-a-Student program. On hand to plant the sugar maple were (left to right) employment officer Kathryn Verhulst, Kitchener councillor Tom Galloway. MP Karen Redman and MPP Wayne Wettlaufer. The evem was part of national initiative involving Human Resource Centres of Canada for Students. BY Axum Bum CEMQSW 7150‘“ hawk-nth IWIH‘. "ug.g9. vo!’ duo- strike down of the bylaw which came into effect Ian. l, prohibiting smoking in all public places, said he was not surprised to hear the rule would be left untouched. In his decision. Justice RD. Reilly stated the owners did not establish their claims as having a "real chance of success", and rather their claims had "no chance of suc- cess at all" "I knew what it was going to be," Felber said, adding he doubts the men will appeal the decision, "All this means is that it's still going to be a rough battle for us ahead." He also said the owners may have to incur the legal costs of the Region. - - Mike hittinger, owner of Out on a limb lam-.1 - "tg-rs-dt-to-h. manu- 'ihbiWi1"ilml laid-“hm Unethical-w Thirsty's bar and grill, described the ruling as a step backward for his business, "l'm considering (closing down)," he said, "With all of the expenses I have to pay, there's only so much you can reach into your own back pocket for? Rittingier also said compared to the last two years his business is down between 3540 per cent. "lately, my only hmch crowd has been my bartender and my cook," he said. But Brian Hanan. director of environmental health and lifestyle resources for the region. said the ruling has only reassured the Continued on page 6 “VIM“