Postmedia Network Canada Corporation (also known as Postmedia Network or Postmedia) is a Canadian media company consisting of the publishing properties of the former Canwest, with primary operations in newspaper publishing, news gathering and Internet operations.
The ownership group was assembled by National Post CEO Paul Godfrey in 2010 to bid for the chain of newspapers being sold by the financially troubled Canwest (the company's broadcasting assets were sold separately to Shaw Communications). Godfrey secured financial backing from a U.S. private equity firm, the Manhattan-based hedge fund GoldenTree Asset Management--which owns 35 per cent--as well as other investors. The group completed a $1.1 billion transaction to acquire the chain from Canwest on July 13, 2010. Headquartered in Toronto, Ontario, the company has over 4,700 employees. The company's shares were listed on the Toronto Stock Exchange in 2011.
The company's strategy has seen its publications invest greater resources in digital news gathering and distribution, including expanded websites and digital news apps for smartphones and tablets. This began with a revamp and redesign of the Ottawa Citizen, which debuted in 2014.
Video Postmedia Network
History
On July 13, 2010 the Manhattan-based hedge fund, Golden Tree Asset Management acquired the Asper family's bankrupt CanWest media empire for $1.1 billion.
On October 6, 2014, Postmedia's CEO Godfrey announced a deal to acquire the English-language operations of Sun Media. The purchase received regulatory approval from the federal Competition Bureau on March 25, 2015, even though the company manages competitive papers in several Canadian cities; while the Sun Media chain owns numerous other papers, four of its five Sun-branded tabloids operate in markets where Postmedia already publishes a broadsheet competitor. Board chair Rod Phillips has cited the Vancouver market, in which the two main daily newspapers, the Vancouver Sun and The Province, have had common ownership for over 30 years, as evidence that the deal would not be anticompetitive. The purchase did not include Sun Media's now-defunct Sun News Network. The acquisition was approved by the Competition Bureau on March 25, 2015., and closed on April 13.
In 2016, the company sought to restructure its compensation plans and reduce spending by as much as 20%, after reporting a net loss of $99.4 million, or 35 cents per diluted share, in the fourth-quarter ended Aug. 31, compared with a $54.1 million net loss, or 19 cents per diluted share, in the same period a year earlier. This resulted in 90 newsroom staff losing their jobs.
On November 27, 2017, Postmedia and Torstar announced a transaction in which Postmedia will sell seven dailies, eight community papers, and the Toronto and Vancouver 24 Hours to Torstar, in exchange for 22 community papers and the Ottawa and Winnipeg versions of Metro. Except for the Exeter Times-Advocate, St. Catharines Standard, Niagara Falls Review, Peterborough Examiner, and Welland Tribune, all acquired papers will be closed.
Maps Postmedia Network
Assets
Advertising
- The Flyer Force
- Go!Local
Publishing
Newspapers
National
- National Post
Broadsheet dailies
- Calgary Herald
- Cornwall Standard Freeholder
- Edmonton Journal
- London Free Press
- Montreal Gazette
- Ottawa Citizen
- Regina Leader-Post
- The StarPhoenix (Saskatoon)
- The Vancouver Sun (not related to the tabloid Sun newspapers also owned by Postmedia)
- Windsor Star
Tabloid dailies
- Calgary Sun
- Edmonton Sun
- Ottawa Sun
- The Province (Vancouver)
- Toronto Sun
- Winnipeg Sun
Free dailies
- 24 Hours (Toronto, Vancouver) sold to Torstar and closed, 2017
Community newspapers
Postmedia owns newspapers that serve smaller communities across Canada, including:
- Airdrie Echo (tabloid)
- Barrie Examiner (broadsheet) sold to Torstar and closed, 2017
- Belleville Intelligencer (broadsheet)
- Bow Valley Crag & Canyon (tabloid)
- Brantford Expositor (broadsheet)
- Bradford Times (tabloid) sold to Torstar and closed, 2017
- Brockville Recorder and Times (broadsheet)
- Camrose Canadian (tabloid)
- Chatham This Week (tabloid)
- Clinton News-Record (tabloid)
- Cochrane Times (Alberta) (tabloid)
- Cochrane Times-Post (tabloid)
- Collingwood Enterprise Bulletin sold to Torstar and closed, 2017
- Cornwall Standard Freeholder (broadsheet)
- Drayton Valley Western Review (tabloid)
- Edson Leader (tabloid)
- Elliot Lake Standard (tabloid)
- Fort McMurray Today (tabloid)
- Fort Saskatchewan Record (tabloid)
- Grande Prairie Daily Herald-Tribune (tabloid)
- Hanna Herald (tabloid)
- High River Times (tabloid)
- Hinton Parklander (tabloid)
- Kenora Daily Miner and News (broadsheet)
- Kincardine News (tabloid)
- Kingston Whig-Standard (broadsheet)
- Kingston This Week (tabloid)
- Lakeshore Advance (Grand Bend; tabloid)
- Lloydminster Meridian Booster (tabloid)
- Mid-North Monitor (Espanola; tabloid)
- Mayerthorpe Freelancer (tabloid)
- Nanton News (tabloid)
- Niagara Falls Review (broadsheet) sold to Torstar, 2017
- North Bay Nugget (broadsheet)
- Norwich Gazette
- Orillia Packet & Times (broadsheet) sold to Torstar and closed, 2017
- Owen Sound Sun Times (broadsheet)
- Peace River Record-Gazette (broadsheet)
- Pembroke Daily Observer (broadsheet)
- Peterborough Examiner (broadsheet) sold to Torstar, 2017
- Pincher Creek Echo (tabloid)
- Sault Star (broadsheet)
- Simcoe Reformer (tabloid)
- St. Catharines Standard (broadsheet) sold to Torstar in 2017
- St. Thomas Times-Journal (tabloid)
- Strathmore Standard (tabloid)
- Stratford Beacon Herald (broadsheet)
- Sudbury Star (broadsheet)
- Timmins Daily Press (broadsheet)
- Vulcan Advocate (tabloid)
- Whitecourt Star (tabloid)
- Woodstock Sentinel-Review (broadsheet)
Magazines
- Financial Post Business
- Living Windsor
- Swerve
- TVtimes
Online
- Canada.com
- celebrating.com
- connecting.com
- driving.ca
- househunting.ca
- remembering.ca
- shoplocal.ca
- SwarmJam.com
- Infomart.com
- in addition, Postmedia Network owns all websites associated with all properties listed on this page either wholly or in partnership.
Software
- QuickTrac
- QuickWire
Other properties
- Postmedia News
See also
Other media groups in Canada include:
- Torstar
- Metroland Media Group
- Star Media Group
- Quebecor Media
- SaltWire Network
- The Woodbridge Company
- TC Transcontinental
Related articles
- History of Canadian newspapers
- Media of Canada
References
External links
- Official website
- Canada.com web portal
Source of article : Wikipedia
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