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CanWest planning $200 million TV studio for Toronto?

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CanWest Global Communications Corp.
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TORONTO - CanWest Global Communications is said to be in negotiations with the city of Toronto to build an ambitious $200 million TV studio and newspaper complex on Toronto's waterfront reports the Toronto Star.

According to a Nov. 13 report in the Toronto Star, CanWest and the Toronto Economic Development Corp. (TEDCO) are working on a deal under which CanWest would lease city-owned land on Toronto's waterfront to build a Toronto headquarters that would bring the company's Toronto newspaper and television operations under one roof.

TEDCO prexy and CEO Jeffrey Steiner and CanWest Global spokesperson Geoff Elliott were both reported to have declined to comment on the rumors.

Federal, provincial and municipal governments put in place in 2001 a plan to revitalize a 46-kilometer stretch of industrial wasteland on Toronto's waterfront. This is the largest proposal for the land to date.

Earlier this year Toronto Film Studios won a bid to build an $ 83.8-million film studio in the same area. TFS and TEDCO are in the process of negotiating the details of that development.

Toronto mayor David Miller is in Frankfurt, where he and a TEDCO delegation are visiting that city's harbor redevelopment area to glean ideas for Toronto.

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