FOR IMMEDIATE RELEASE

June 30, 2009

CHANNEL ZERO INC. AGREES TO PURCHASE CHCH-TV HAMILTON AND CJNT-TV MONTREAL FROM CANWEST

Purchase secures local programming and all employee jobs

TORONTO - Channel Zero Inc., a private Canadian television broadcaster, has agreed to purchase CHCH-TV in Hamilton and CJNT-TV in Montreal from Canwest. This deal ensures the continued operation and local focus of both stations and the employment of all current employees.

Channel Zero understands the importance of these stations to their immediate and extended markets and will build on the strengths of both stations to create a strong regional and national presence. CHCH-TV, a leader in news programming, will broadcast all news/all day with well known movie favourites in the evening. CJNT-TV will broadcast both original foreign movies and multicultural music videos, with vibrant, fresh multicultural hosts.

`We are excited to have CHCH-TV and CJNT-TV join the Channel Zero team`, said Cal Millar V.P. and General Manager, Channel Zero. `By enhancing and energizing the format and focusing on what each station does best, we know that both stations will be national leaders in their format, will have huge appeal to their core audiences and will be very advertiser friendly."

"We are committed to high definition programming on these stations and have aggressive high definition expansion plans, " said Romen Podzyhun, President and CEO, Channel Zero Inc. "HD will keep the stations on the leading edge and will enhance the experience for both viewers and advertisers."

Conditions of the sale include Canwest securing an extension of CHCH`s collective agreement with the Communications, Energy and Paperworkers Union (CEP) and purchase approval from the Canadian Radio-Television and Telecommunications Commission (CRTC). A purchase price has not been disclosed.

Channel Zero intends to file applications with the CRTC requesting approval for the transfer of control of the station`s licences under terms and conditions substantially similar to those contained in the current licences.

About Channel Zero Inc.

Since its creation in 2000, Channel Zero has overseen the creation and broadcast success of several digital specialty networks - including Movieola - The Short Film Channel and Silver Screen Classics. In 2006 Channel Zero created Ouat Media Inc., a film and new media content distribution company, to assist the company in carrying out its mandate of providing quality entertainment to audiences around the world. With a strong professional skill base and original vision, Channel Zero continues to expand the specialty channel boundaries in Canada and abroad, through creative and innovative programming, promotion and exhibition. www.tvchannelzero.com

Channel Zero was advised on this transaction by Klein Farber Corporate Finance Inc. www.kleinfarber.com

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For more information:

Karen Gordon

Squeaky Wheel Communications Inc.

416-997-9478

karen@squeakywheel.biz