Postmedia enters agreement to buy SaltWire chain of newspapers
CBC
Postmedia has entered an agreement to purchase SaltWire, Atlantic Canada's largest newspaper chain, according to a news release issued Friday.
SaltWire has been under creditor protection since March. It publishes more than 20 papers in Atlantic Canada, including The Chronicle Herald in Halifax, The Guardian in Charlottetown, and The Telegram in St. John's, along with associated websites.
In the release, the Canadian news media company said the potential acquisition aligns with Postmedia's commitment to preserving local journalism and supporting communities.
"If the transaction can be completed, Postmedia intends to provide the necessary back office resources and operational infrastructure to ensure there continues to be reliable and high-quality local news provided to the affected communities," said Postmedia president and CEO Andrew MacLeod.
It was not clear from the news release whether Postmedia intends to preserve all of SaltWire's titles.
"Readers would continue to enjoy stories reported by local journalists, supported by the voices and opinions that Canadians across the country rely on for information, diverse perspectives, and unique insights into national and international developments," the release said.
Postmedia did describe the current operations of SaltWire as unsustainable, though, and said closing the deal would require co-operation from the company's workforce.
"In order to save critical journalism jobs, we will need the support of the relevant unions to help construct a viable business model," MacLeod said.
Willy Palov is the president of the Halifax Typographical Union, CWA 30130.
"We're pleased to see a buyer step forward," he told CBC News in an email on Friday.
"The news is still fresh, and we don't have all the details yet, so the members and I will have to review the proposed terms before we can say a whole lot more."
Journalist Stephen Maher worked for both companies over the course of his career, having served as the Ottawa bureau chief for the Herald from 2004-2011, and then as a national columnist for Postmedia.
He says he saw first-hand the importance of having an independent paper in the Atlantic region.
"During the Atlantic Accord disputes, when Nova Scotia and Newfoundland and Labrador's leaders were pushing for a greater share of offshore petroleum revenue, in opposition to Paul Martin and then Stephen Harper, the Herald played an important role in covering the issue from an Atlantic angle, which put intense political pressure on Ottawa to make a reasonable deal," he said in an emailed statement to CBC News.
Ottawa is staring down a court-ordered deadline to submit a new plan to reform the on-reserve child welfare system, as a group of First Nations leaders and children’s advocates prepare a competing proposal.
An underpass revitalization project that was meant to pay tribute to the people of Parkdale has instead deteriorated into “a garbage dump,” according to nearby residents.
A young man has been charged with criminal negligence causing bodily harm after a fire at a frat party near Western University that injured five sorority sisters, including two seriously, late Tuesday night.
The massive deal to combine one of Hollywood's oldest studios with a streaming giant hasn't even been approved yet, but it's already riling multiple related industries and politicians concerned about monopolies and media concentration.
Mi'kmaq chiefs and a former Nova Scotia justice minister are criticizing the provincial government for directing police to crack down on illegal cannabis, saying the order undermines relations with Indigenous Peoples.
For years, there has been “glaring inequity” in the way the province has allocated the millions of dollars in its county roads budget, according to Department of Transportation Minister Chuck Chiasson.
Six months after passing a law aimed at making it easier for new grocery stores to open, Manitoba's premier says lower grocery bills could be on the horizon.
Timothy Smith was acting in self-defence when he punched Landon Waddell, and shouldn't be found guilty of manslaughter, his lawyer says.
Thoroughbred horse racing at Vancouver’s Hastings Racecourse is ending after more than a century, with the operator announcing Friday it will no longer run a racing season at the historic facility.
A memorial to remember lives lost to gender-based violence was held in Charlottetown Friday, ahead of the National Day of Remembrance and Action on Violence Against Women, which is marked annually on Dec. 6.
A Calgary dentist who defrauded five insurance companies over a decade should spend up to three years in prison, the prosecution argued Friday.
B.C. Conservation Officer Service says it has called off its search for a bear responsible for an attack on a group of school children in Bella Coola, B.C. on Nov. 20.
The union president called it a rally for solidarity as Iqaluit Housing Authority employees gathered Friday while negotiations are ongoing between the Nunavut Employees Union and the employer.