frontpage.jpgThere’s been a lot of talk lately about how Canada has managed to bypass much of the recession that is currently walloping the US. However one company to the North that is feeling the pain is CanWest, Canada’s largest newspaper publisher, and owner of a number of international media properties including The New Republic, which it took over from owner Marty Peretz in February, 2007.

Now that the media conglomerate is teetering financially Folio: is reporting they may be looking to sell the 94 year old magazine “with a long and storied history.” And rumor has it original owner Peretz could be interested in re-acquiring it either alone or with investors (Peretz has refused to comment). However, Paul Waldman at The Daily Beast suggests that Laurence Grafstein, until recently a top executive at Lazard who also served on the magazine’s board, could also be interested.