Alliance Atlantis Plan of Arrangement clears Canadian Competition Bureau review

Alliance Atlantis Plan of Arrangement clears Canadian Competition Bureau review

TORONTO, April 23 /PRNewswire-FirstCall/ -- Alliance Atlantis Communications Inc. and CanWest Global Communications Corporation today announced that the Plan of Arrangement pursuant to which AA Acquisition Corp. (formerly 6681859 Canada Inc.) would acquire all of the outstanding shares of Alliance Atlantis for $53.00 cash per share has cleared Canadian Competition Bureau review.

About Alliance Atlantis

Alliance Atlantis offers Canadians 13 well-branded specialty channels boasting targeted, high-quality programming. Alliance Atlantis also co-produces and distributes the hit CSI franchise and indirectly holds a 51% limited partnership interest in Motion Picture Distribution LP, a leading distributor of motion pictures in Canada, with motion picture distribution operations in the United Kingdom and Spain. Alliance Atlantis' shares are listed on the Toronto Stock Exchange-trading symbols AAC.A and AAC.B. Alliance Atlantis' website is www.allianceatlantis.com.

About CanWest Global Communications Corp.

CanWest Global Communications Corp. (www.canwestglobal.com), (TSX: CGS and CGS.A, NYSE: CWG) an international media company, is Canada's largest media company. In addition to owning the Global Television Network, CanWest also owns, operates and/or holds substantial interests in Canada's largest publisher of daily newspapers, and conventional television, out-of-home advertising, specialty cable channels, web sites and radio stations and networks in Canada, New Zealand, Australia, Turkey, Singapore, the United Kingdom and the United States.

Forward-Looking Statements

This press release includes forward-looking statements which reflect Alliance Atlantis' current expectations. Forward-looking statements are those which are not historical fact and include in this news release statements relating to the completion of the Arrangement. The reader should not place undue reliance on such forward-looking statements. They involve known and unknown risks, uncertainties and other factors that may cause them to differ materially from anticipated future results or expectations expressed or implied by such forward-looking statements. Other risks and factors are described in materials filed by Alliance Atlantis with the security regulatory authorities in Canada from time to time are available at www.sedar.com. Alliance Atlantis undertakes no obligation to publicly update or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise.

This news release contains certain comments or forward-looking statements regarding CanWest that are based largely upon current expectations and are subject to certain risks, trends and uncertainties. These factors could cause actual future performance to vary materially from current expectations. CanWest disclaims any intention or obligation to update any forward-looking statement even if new information becomes available as a result of future events or for any other reason.

Source: Alliance Atlantis Communications Inc.

CONTACT: Alliance Atlantis: Nicola McIsaac, tel. (416) 969-4405; CanWest
Global: Deb Hutton, tel. (416) 383-2442

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