Probably unrelated events

Canadian media company CanWest has this week announced its intention to sell its 45 percent stake in the Irish independent broadcaster TV3 while buying a partnership in the Crimson New Republic magazine. It's odd that the rationale for selling the TV3 stake is disposal of assets 'no longer strategic to the company', yet the company does not seem to have much of a specialty in opinion magazines either. It also means swapping having to deal with U2's personable manager, Paul McGuinness, another TV3 investor, for dealing with New Republic supremo, Martin Peretz. It remains to be seen whether they know what they're getting into.