dow jones..upgrade

0805 [Dow Jones] CanWest (CWG) has flagged strong earnings growth for Ten Network (TEN.AU) as part of its hunt for a buyer for its 56.4% stake in the group, the AFR reports. The information memorandum CanWest's adviser Citigroup has distributed to potential buyers predicts that Ten's EBITDA - excluding outdoor advertising business Eyecorp - will be flat at about A$229 million in the 12 months to Aug. 31 this year then jump 1)%-20% in both 2007-08 and 2008-09, the paper reports. The bullish forecasts are based on a tight cost-control program and annual advertising revenue growth of 5%-7.5% over the next three years, it adds. (SVM)