Sept. 8 (Bloomberg) -- CanWest Global Communications Corp., Canada's biggest media company, said it plans to raise C$1.45 billion ($1.2 billion) from selling a stake in its newspaper unit through an initial public offering.

The media group, based in Winnipeg, Manitoba, plans to sell a 28 percent stake in the newspaper division through an income trust offering, the company said in a Canada NewWire release today.

To contact the reporter on this story: David Scanlan in Toronto dscanlan@bloomberg.net.

Last Updated: September 8, 2005 08:13 EDT