Canwest entered bankruptcy protection in late 2009, leading to the sale of the company's assets. Canwest's newspaper arm was sold to a group of creditors led by National Post CEO Paul Godfrey, through a newly formed company named Postmedia Network. The sale of the company's broadcasting arm to Shaw Communications closed on October 27, 2010, after CRTC approval for the sale was announced on October 22; those assets are then collectively known as Shaw Media which in turn was acquired by Corus Entertainment 6 years later on April 1, 2016. Following the sale of assets, the company was renamed 2737469 Canada Inc., ceased to carry on business, and commenced bankruptcy proceedings under the Bankruptcy and Insolvency Act. The company was finally dissolved on May 27, 2013.