Canadian company, CanWest Global Communications, a substantial shareholder in Ulster Television and TV3, said this week it would take a 20 per cent stake in each of two US-based Internet companies in a deal worth a total of C$22 million (€13.6 million).

CanWest said it will acquire interests in Minneapolis-based Internet Broadcasting Systems (www.ibsys.com) and LifeServ of Chicago (www.lifeserv.com) in separate transactions. Both Net content providers are privately held. The deals mark the first acquisitions made by CanWest's six-month-old New Media division.