What you need to know about the potential Postmedia-Nordstar merger
Global News
The Competition Bureau will likely have to sign off on this deal amid an industry that’s been shrinking and consolidating for years.
What’s happening with Postmedia and Nordstar?
Postmedia Network Canada Corp. and Nordstar Capital LP are in talks about a potential merger.
They said in a press release that they’re trying to create greater scale in order to respond to the “existential threat” facing the media industry.
Postmedia owns newspapers across the country including the National Post, the Edmonton Journal and the Calgary Herald, as well as the Sun in Ottawa, Toronto, Calgary and Edmonton.
Nordstar owns Metroland Media Group and the Toronto Star, and is a relatively new company, having been created to acquire Torstar Corp. in 2020.
Is this a done deal?
No, this is not final yet. The companies are in ongoing talks about the merger, which they said is currently in the form of a non-binding letter of intent.
Does the government need to weigh in?