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 were then collectively known as Shaw Media. On April 1, 2016, the broadcasting assets were subsumed into Corus Entertainment, an existing broadcasting firm also owned by the Shaw family.