Asper backs rival bid for CanWest

CanWest Global Communications Corp. has a second suitor. A consortium backed by the Asper family and supported by Goldman Sachs Group Inc. will file a $120-million bid for control of the broadcasting company. Toronto-based private equity fund Catalyst Capital Group Inc., a substantial owner of CanWest's bonds, has assembled a rival bid for CanWest to compete with last week's offer by Shaw Communications Inc. In addition to Goldman and the Aspers, the Catalyst group includes two former senior executives from Rogers Communications Inc.: John Tory, the ex-CEO of Rogers' cable division, and television executive Rael Merson, who would be the new chief executive officer of CanWest, according to sources familiar with the details. The Catalyst coalition wants to own 32 per cent of CanWest in exchange for their investment. The offer, if successful, would thwart Shaw's effort to gain control of one of the country's largest conventional TV networks and a collection of coveted specialty cable channels.