Canwest Global Communications Corp has won a further reprieve from bankers on a major debt repayment. Canada's leading media conglomerate - owner of the National Post newspaper and Global television stations - now has until May 19 to repay $30.4m (£17.2m). Overall, the company owes $3.9bn (£2.2bn). (Via Toronto Star)

CanWest Global Communications Corp, Canada's largest newspaper publisher, has been granted a two-week reprieve by creditors as it strives to avoid bankruptcy over its C$3.7bn (£2bn) debt burden. Banks have set an April 21 deadline while talks continue

The headline, The death of Canadian journalism, is probably a mite overstated but the article about the fate of the flagship newspaper in Canada's third largest city, the Vancouver Sun, is a worthwhile read. The writer lays blame for the paper being "irrelevant or dysfunctional" at the feet of its owner, CanWest Global Communications, arguing that Canada's leading media company "has such a stranglehold on the city that any reporter caught speaking out against them would have trouble finding work in Vancouver again." (Via AD Busters)

A year-and-a-half after CanWest spun out its newspapers into a $550m (£256m) income trust, the company is buying them back for $55m (£25.6m) less than the original sale price. It is the latest in a series of moves by the Winnipeg-based conglomerate to focus on its Canadian operations while selling off international assets. The trust owns 10 of CanWest's daily papers, including the Vancouver Sun, Ottawa Citizen and The Gazette of Montreal. (Via Globe & Mail)

10.15am: Embattled Telegraph owner Conrad Black is to leave the board of one of Canada's leading media companies following the row over unauthorised payments, writes Chris Tryhorn.

Conrad Black's newspaper group Hollinger could be forced to pay more than $46.8 million to Canadian media company CanWest, writes Ben Wootliff.