| DON'T BUY | 2.330 | David Burrows | This is an incredibly tough sector right now. Balance sheet is a bit of an issue. | 2008-08-05 | |
| DON'T BUY | 2.450 | Greg A. Taylor, CFA, BBA | Feels this is more of a value trap right now. Looks cheap when looking at operating metrics but you have to step back and look at the economy. Big drivers of this company are the newspaper and TV station and their big drivers of revenue are housing, consumer and auto. | 2008-07-22 | |
| TOP PICK | 2.250 | John Zechner | Have messed up so many things in the past year. At current levels, the stock is reflecting near bankruptcy. However, they have an operating cash flow of almost $700 million. It is worth more dead than alive if you broke it up. At this level you should be able to make money on it. | 2008-07-14 | |
| BUY | 3.700 | Robert Floyd | Lot of deep value investors have been putting in large positions. The evaluation is extremely cheap. Looks like it’s coming close to a bottom. Good support in terms of smart money. | 2008-05-30 | |
| Comment | 3.840 | Michael Sprung | The real fear in a lot of the media companies right now is, are the advertising dollars going to slow down. If your outlook is long-term, it could be an all right investment at this point. | 2008-05-29 | |
| SELL | 3.840 | David Burrows | Media are having a difficult time, this one finding it rougher than others. This is not the right place for right now. Not going to turn around in the short run. | 2008-05-22 | |
| DON'T BUY | 4.030 | Brian Acker, CA | (Market Call Minute.) A model price of $3.76. A -8% differential. | 2008-05-08 | |
| BUY | 7.240 | Gavin Graham | Alliance Atlantis deal was approved by the CRTC and was a very big win for them. This will allow them to get the specialty cable television channel. Also have the Australian, New Zealand and Irish TV all fits of which they are selling off. | 2008-01-02 | |
| TOP PICK | 6.900 | John Zechner | Sentiment is so negative right now that when you add up the value of the Australian assets and the newspapers it covers the current stock price and the debt. You’re getting the television operation and the Alliance-Atlantis purchase almost for free. There could be a few strings attached to the current acquisition. Thinks the market has oversold. | 2007-12-05 | |
| DON'T BUY | 7.250 | Ross Healy | Market has been waiting for the promise of this company to come through and it really hasn't come through so there was a big selloff. Still trading at his Fair Market Value so he cannot see any upside at the present. | 2007-10-05 | |
| DON'T BUY | 7.910 | David Burrows | Media group has been very out of favour. This one does not look attractive and has been backing off since February. Would be looking for companies that have been able to buck the trend. | 2007-08-09 | |
| DON'T BUY | 9.090 | David Baskin | Of all the media stocks, it’s the one that ne would be the most dubious about. None of their assets are doing fabulously well. | 2007-07-17 | |
| DON'T BUY | 10.510 | Charles Lannon | None voting shares are never a deal breaker, but there is an additional risk that should be compensated for.
Thinks that canwest management is being clever, but he's not buying. | 2007-06-07 | |
| DON'T BUY | 10.680 | Peter Hofstra | Not a strong acquisition target. Likes the business, but recently stepped out. On their transition to Cognos8, it didn't go as quickly as they had hoped and the stock dropped which is when he bought. Pretty much at full value now. Would be interested in the mid-$30's. | 2007-04-30 | |
| TOP PICK | 10.550 | John Zechner | Acquired Alliance Atlantis and there are some execution risks. Sum of the pieces is more valuable than where the stock is. Big leverage is the Canadian broadcasting operations. Expect it will sell off some Australian assets. | 2007-04-25 | |
| TOP PICK | 11.650 | John Zechner | Acquiring Alliance Atlantis (AAC.A-T), which was a nice deal to get them out of a troubled situation. They needed specialty assets. Balance sheet is still stretched. | 2007-01-22 | |
| DON'T BUY | 9.020 | David Driscoll | The issue in the TV business is that ad rates are being threatened by Google. There is consolidation going on in the industry that is making things very competitive and therefore very difficult to squeeze out growing earnings. | 2006-08-17 | |
| PAST TOP PICK | 9.940 | David Chapman | (A Top Pick Nov 9/05. No change.) When he picked these stocks, he was trying to play the Christmas bounce. All 3 failed to materialise. His suspicion is that the base has a lot longer to build. Got out at $11. | 2006-03-28 | |
| TOP PICK | 10.000 | David Chapman | All his picks are for a seasonal Santa Claus rally trade. If they move 20%, say thank you and get the heck out. Normally he wouldn't even touch this thing, but it only collapsed on the income trust issue. This is a real speculative play. | 2005-11-09 | |
| WAIT | 13.000 | Dean Orrico | Attempting to IPO its newspaper business, ex the National Post, into a trust. The decline in newspaper advertising is a concern. | 2005-09-30 | |
| DON'T BUY | 15.000 | Bruce Hartman | Intends to convert to a trust without the National Post. The newspaper business tends to be fairly cyclical. National and local advertising can be quite volatile depending on the direction the economy is heading in. This will require a lot of due diligence to understand how much leverage there will be in the trust and how cyclical it will be. | 2005-09-09 | |
| HOLD | 14.890 | David Baskin | Going to spin off 28% of their newspapers with the exception of the National Post and this will be enough to retire their 10.75% debentures. Not a bad thing for shareholders. Not a fan of the newspaper business. Would not hold it longer than 3 or 4 months after the conversion. | 2005-09-08 | |
| DON'T BUY | 13.800 | Bruce Campbell | Still considering converting to an income trust which would give it 15/20% upside. They've been getting killed by CTV. | 2005-07-14 | |
| BUY | 13.890 | Fred Sturm | Still a cheap stock. Feels there are still some catalysts that it will go through. Feels they will find value through trusting of operations. There is a feeling that the Australian/New Zealand operations are not growing as had been hoped, so the company might have to go through a period were it's quiet. | 2005-06-22 | |
| BUY | 15.040 | Don Vialoux | 5 year chart shows stock acting very nicely. One year chart shows a gorgeous trend for a stock. Upward trend is well established, so technicals look very, very good. Stock has strong seasonality from end of November to end of May. In the last 10 years you would have been ahead 9 out of 10 times with an average return of 15%. Earnings are looking very strong. | 2005-02-10 | |
| BUY | 12.970 | Mark Jackson, CFA | From a net asset value perspective, there is lots of value. Feels there can be considerable upside from here. Even though there was weakness in conventional TV, the numbers next year should be OK. | 2004-12-07 | |
| BUY | 9.300 | Ian Nakamoto | Debt has always been a problem for this company. | 2004-09-14 | |
| DON'T BUY | 11.500 | Jonathen Wellum, B. Comm, B. Sc | Has been disappointed with the leveraging up of the company into the newspaper business. As it goes higher, they'll have to look at their holdings to see if they want to keep it for the long-term. | 2003-09-26 | |
| SELL | 10.890 | David Taylor, MBA, CFA | Had a great run. Pretty much fair value at these prices. | 2003-09-12 | |
| DON'T BUY | 8.820 | David Burrows | Has a lot of debt that they are trying to pay down. Would prefer Torstar which has a better cash flow. | 2003-07-22 | |
| BUY | 8.800 | Jonathen Wellum, B. Comm, B. Sc | Had a lot of acquisitions, mainly newspapers, so equity value dropped. Now selling some assets and paying down debt. Should go higher, but you have to have patience. | 2003-06-24 | |
| BUY | 6.760 | Brian Acker, CA | Fundamentals seem to be turning around. Just have a small position. Nibble. | 2003-04-07 | |
| DON'T BUY | 6.490 | Ted Macklin | They are trying to deal with their balance sheet. Not a big fan of their convergance strategy. | 2003-03-20 | |
| HOLD | 7.200 | Jonathen Wellum, B. Comm, B. Sc | Has levered themselves too much into newspapers. Still has great value. | 2003-01-10 | |
| DON'T BUY | 5.930 | Robert Floyd | Stretched balance sheet. Turning around. | 2002-12-18 | |
| DON'T BUY | 5.000 | Brian Acker, CA | Have to get their debt down. | 2002-11-07 | |
| BUY | 5.760 | Pierre Bernard | Volatile so treat as a trading stock. Will slowly benefit from economy. Big debt. Risky. | 2002-10-29 | |
| DON'T BUY | 4.750 | Mark Jackson, CFA | Has high leverage on the balance sheet. | 2002-10-22 | |
| DON'T BUY | 6.600 | Mike Weir | Significant debt. Hard to forcast earnings. | 2002-08-26 | |
| DON'T BUY | 6.000 | Brendan Caldwell | Not happy with their debt situation. | 2002-08-02 | |
| HOLD | 6.000 | Laura Wallace | Advertising has been down. | 2002-08-02 | |
| DON'T BUY | 6.000 | David Burrows | Have pushed for convergance but the economy is not supportive. | 2002-07-26 | |
| DON'T BUY | 7.000 | Eric Bushell | Overpaid for some of their assets. | 2002-07-18 | |
| DON'T BUY | 7.210 | David Baskin | Cables have had to spend too much and are not making any money. | 2002-07-03 | |
| DON'T BUY | 7.210 | Mike Weir | Too much debt. | 2002-07-03 | |
| DON'T BUY | 8.140 | Ted Macklin | Not a fan. Too much debt. | 2002-06-28 | |
| DON'T BUY | 10.800 | Bill MacLachlan | Can't see where the growth is going to come from. Valuation seems rich. If you own, HOLD. | 2002-05-30 | |
| BUY | 11.250 | Pierre Bernard | Cheap. Too much debt. Advertising is down. | 2002-05-07 | |
| TOP PICK | 13.250 | Robert Floyd | Strong assets. Good management. | 2002-04-05 | |
| PAST TOP PICK | 13.050 | Glenn Paradis, BA, CFA | (Was a top pick on Dec 18 up 10%) Still likes. A lot of upside possible. | 2002-04-01 | |
| DON'T BUY | 13.150 | Ted Macklin | Too much good will on the balance sheet. | 2002-03-15 | |
| DON'T BUY | 13.280 | Gavin Graham | A cyclical. Paid too much for newspapers. | 2002-03-14 | |
| DON'T BUY | 7.100 | David Baskin | Convergance is still a question mark. A lot of debt. | 2001-12-02 | |
Experts that have talked about CanWest Global Comm.
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