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| Category Investors Date 5/17/2006 |
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CanWest MediaWorks Shifts Focus of Dose Brand to Online and Mobile
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| Will cease production of daily magazine |
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TORONTO /CNW/ - CanWest MediaWorks Income Fund today announced plans to shift the focus of its youth-oriented brand, Dose, to the online and mobile arena. Launched in April 2005, Dose was created to capture the underserved 18-34 year old demographic through a multi-platform offering which included a free daily magazine, a comprehensive online service (dose.ca) and innovative wireless content. With the announced changes, the Company will cease production of the printed publication and will move dose.ca into its interactive division to become the youth channel of canada.com network.
"Dose is a unique and innovative brand that resonates with its target demographic of 18-34 year olds," said Peter Viner, President and CEO of the Fund's operating entity, CanWest MediaWorks Limited Partnership ("CanWest MediaWorks"). "In this very competitive newspaper market, we feel the printed publication will not produce the financial results we expect over the long term, however, we see a growing product in the Dose online and mobile offering which we will continue to develop."
Since the launch of dose.ca one year ago, the site has seen significant gains in the online arena with its monthly unique visitors doubling to more than 160,000(*). A recent survey by Ipsos Reid also indicated that dose.ca users are visiting the site frequently and spending more time on dose.ca, demonstrating a growth in frequency with the brand.
Over the past year, the multi-platform offering won numerous awards and was recognized by both the industry and consumers as an innovative and unique product.
"Going forward, we plan to keep the best elements of Dose and weave these into our web, mobile and general content strategies," said Mr. Viner. "The internet is clearly a key medium in reaching the 18-34 year old demo and dose.ca has developed very strong brand awareness with this group which will be beneficial for advertisers and for the overall network. And by leveraging our other key media assets throughout the country, we will be able to continue to provide our advertising clients with creative, integrated solutions."
The decision to halt production of the publication will affect approximately 50 positions. The Company will be retaining approximately 10 Dose staff in various positions throughout the CanWest MediaWorks organization.
"The Dose team is a very dedicated and talented group and we regret the impact on the staff which has invested a great deal in the project over the past year." said Mr. Viner. "However, we must continue to manage our business to ensure we demonstrate a strong value proposition to our customers, advertisers and investors."
(*) source: comscore MediaMetrix
About CanWest MediaWorks Income Fund.
CanWest MediaWorks Income Fund (www.canwest.com/incomefund) is an unincorporated, open-ended trust that holds an approximate 26% equity interest in CanWest MediaWorks Limited Partnership, the largest publisher of daily newspapers in Canada. CanWest Global Communications Corp indirectly owns the remaining 74% equity interest.
CanWest Global Communications Corp.(www.canwestglobal.com) is an international media company listed on the TSX (CGS and CGS.A) and NYSE (CWG), is Canada's largest media company. CanWest is Canada's largest publisher of daily newspapers, and owns, operates and/or holds substantial interests in free-to-air and subscription-based television networks, out-of-home advertising, web sites, and radio stations and networks in Canada, New Zealand, Australia, Ireland, Singapore, Malaysia, Turkey and the United Kingdom.
For further information: Katherine Raso, Corporate Communications, CanWest MediaWorks Inc., ,
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