Canwest says National Post might fold

TORONTO (AP) - Canada's beleaguered media giant Canwest Global Communications says it will shut down the unprofitable National Post newspaper if its operations are not transferred to a different holding company by Friday.

The company said in a court filing Thursday that its creditors refuse to keep funding the newspaper, which is operating under bankruptcy protection and has lost 62 million Canadian dollars ($58 million) in the last four years.

Canwest, which filed for bankruptcy protection this month, says it would be forced to fold the newspaper if it does not receive a transfer approval by Friday.

Moving the Post under the same umbrella as its other newspapers not under bankruptcy protection would help the Post keep its costs down, Canwest says.

A hearing on the matter is scheduled for Friday.