From the Globe and Mail:

The struggling stock of CanWest Global Communications Corp. [CGS-T] is poised to suffer another blow - deletion from Canada's benchmark stock index.

With index provider Standard & Poor's due to announce its quarterly revisions to the S&P/TSX composite index in the next week or so, CanWest's market capitalization as of the end of August appears below the criterion for continued inclusion in the index, according to UBS Securities Canada Inc. strategist Garry Cooper. If his calculations hold true, CanWest would disappear from the closely watched index as of the end of trading on Sept. 19.

Exclusion from the key index would be another dose of bad news for the stock, which has slumped 63 per cent so far this year, as the company struggles with a weakening outlook for advertising sales and its onerous $3.7-billion debt load. That's because many fund managers, particularly outside of Canada, are barred by the terms of their funds from holding stocks that aren't members of major stock indexes such as the S&P/TSX composite.