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Several local papers, including Metro Ottawa, will be closed after media companies Postmedia and Torstar exchanged a number of publications across Ontario.
Metro Ottawa, the Kanata Kourier-Standard, Nepean/Barrhaven News, Orleans News, Ottawa East News, Ottawa South News, Ottawa West News, Stittsville News and West Carleton Review will be shuttered by mid-January.
Postmedia, which owns the Ottawa Citizen and the Ottawa Sun, announced the swap with Torstar subsidiaries Metroland Media Group and Free Daily News Group Inc. on Monday.
Postmedia will acquire 22 community newspaper properties and two free commuter daily newspapers in exchange for 15 of Postmedia’s community newspaper properties and two free commuter daily newspapers.
Torstar, meanwhile, acquires eight weekly community publications, seven daily community newspapers and two free daily newspapers from Postmedia. The company said it will close three of the seven daily newspapers as well as the eight community newspapers purchased.
Very sad and sorry to see the closure of several community newspapers in our city. They were great vehicles to connect with our many neighbourhoods and their voices will be missed. My thoughts are with the dedicated employees who will or have lost their jobs.
— Jim Watson (@JimWatsonOttawa) November 27, 2017
The deal will deliver “cost synergies” while garnering extra flyer and insert business for existing properties in some markets.
“What makes this particularly difficult is that it means we will say goodbye to many dedicated newspaper people,” Postmedia CEO Paul Godfrey said in a statement. “However, the continuing costs of producing dozens of small community newspapers in these regions in the face of significantly declining advertising revenues means that most of these operations no longer have viable business models.”
Postmedia will continue to operate the Exeter Times-Advocate and the Exeter Weekender. The remainder of the acquired properties — which are “located in areas serviced by multiple publications” — will be closed by mid-January, the company said in a press release.
“This transaction allows Postmedia to focus on strategic areas and core products, and allows us to continue with a suite of community-based products, in a deeply disrupted industry,” Godfrey said.
Added John Boynton, president and CEO of Torstar: “This transaction will allow us to operate more efficiently. … By acquiring publications within or adjacent to our primary areas and selling publications outside our primary areas we will be able to put a greater focus on regions where we believe we can be more effective in serving both customers and clients.”
The daily publications that TorStar will close are the Barrie Examiner, Orillia Packet & Times and Northumberland Today, while it expects to continue to publish St. Catharines Standard, Niagara Falls Review, Welland Tribune and Peterborough Examiner.
Torstar will also close the free dailies 24Hours Toronto and 24Hours Vancouver.
The deal is expected to improve annualized operating earnings at Torstar by $5 million to $7 million, the company said.
No cash will change hands as “the properties have approximately similar fair values,” according to Postmedia. The transaction is not subject to the merger notification provisions of the Competition Act and no regulatory approval is needed, the company said.
“The growing strength of digital giants has caused seismic shifts in the allocation of advertising revenues – putting all media companies under massive pressure,” said Postmedia president and CEO Andrew MacLeod in a statement. “Our digital strategies are showing promising signs but we must take all possible actions in order to give these new initiatives time to grow momentum while managing the decline of legacy revenue streams and their associated costs.”\
Will be updated…
Properties acquired by Postmedia from Torstar
Belleville News
Brant News
Central Hastings News
Exeter Times-Advocate
(and the Exeter Weekender)
Frontenac Gazette
Kanata Kourier-Standard
Kingston Heritage
Meaford Express
Metro Ottawa
Metro Winnipeg
Nepean/Barrhaven News
Norfolk News
Orleans News
Ottawa East News
Ottawa South News
Ottawa West News
Our London
Quinte West News
St. Lawrence News
St. Mary’s Journal-Argus
(and the St. Mary’s Weekender)
St. Thomas/Elgin Weekly News
Stittsville News
Stratford City Gazette
West Carleton Review
Properties sold by Postmedia to Torstar
24 Hours Toronto
24 Hours Vancouver
Barrie Examiner
Bradford Times
Collingwood Enterprise Bulletin
Fort Erie Times
Innisfil Examiner
Inport News (Port Colborne)
Niagara Advance
Niagara Falls Review
Northumberland Today
Orillia Packet & Times
Pelham News
Peterborough Examiner
St. Catharines Standard
Thorold Niagara News
Welland Tribune
查看原文...
Metro Ottawa, the Kanata Kourier-Standard, Nepean/Barrhaven News, Orleans News, Ottawa East News, Ottawa South News, Ottawa West News, Stittsville News and West Carleton Review will be shuttered by mid-January.
Postmedia, which owns the Ottawa Citizen and the Ottawa Sun, announced the swap with Torstar subsidiaries Metroland Media Group and Free Daily News Group Inc. on Monday.
Postmedia will acquire 22 community newspaper properties and two free commuter daily newspapers in exchange for 15 of Postmedia’s community newspaper properties and two free commuter daily newspapers.
Torstar, meanwhile, acquires eight weekly community publications, seven daily community newspapers and two free daily newspapers from Postmedia. The company said it will close three of the seven daily newspapers as well as the eight community newspapers purchased.
Very sad and sorry to see the closure of several community newspapers in our city. They were great vehicles to connect with our many neighbourhoods and their voices will be missed. My thoughts are with the dedicated employees who will or have lost their jobs.
— Jim Watson (@JimWatsonOttawa) November 27, 2017
The deal will deliver “cost synergies” while garnering extra flyer and insert business for existing properties in some markets.
“What makes this particularly difficult is that it means we will say goodbye to many dedicated newspaper people,” Postmedia CEO Paul Godfrey said in a statement. “However, the continuing costs of producing dozens of small community newspapers in these regions in the face of significantly declining advertising revenues means that most of these operations no longer have viable business models.”
Postmedia will continue to operate the Exeter Times-Advocate and the Exeter Weekender. The remainder of the acquired properties — which are “located in areas serviced by multiple publications” — will be closed by mid-January, the company said in a press release.
“This transaction allows Postmedia to focus on strategic areas and core products, and allows us to continue with a suite of community-based products, in a deeply disrupted industry,” Godfrey said.
Added John Boynton, president and CEO of Torstar: “This transaction will allow us to operate more efficiently. … By acquiring publications within or adjacent to our primary areas and selling publications outside our primary areas we will be able to put a greater focus on regions where we believe we can be more effective in serving both customers and clients.”
The daily publications that TorStar will close are the Barrie Examiner, Orillia Packet & Times and Northumberland Today, while it expects to continue to publish St. Catharines Standard, Niagara Falls Review, Welland Tribune and Peterborough Examiner.
Torstar will also close the free dailies 24Hours Toronto and 24Hours Vancouver.
The deal is expected to improve annualized operating earnings at Torstar by $5 million to $7 million, the company said.
No cash will change hands as “the properties have approximately similar fair values,” according to Postmedia. The transaction is not subject to the merger notification provisions of the Competition Act and no regulatory approval is needed, the company said.
“The growing strength of digital giants has caused seismic shifts in the allocation of advertising revenues – putting all media companies under massive pressure,” said Postmedia president and CEO Andrew MacLeod in a statement. “Our digital strategies are showing promising signs but we must take all possible actions in order to give these new initiatives time to grow momentum while managing the decline of legacy revenue streams and their associated costs.”\
Will be updated…
Properties acquired by Postmedia from Torstar
Belleville News
Brant News
Central Hastings News
Exeter Times-Advocate
(and the Exeter Weekender)
Frontenac Gazette
Kanata Kourier-Standard
Kingston Heritage
Meaford Express
Metro Ottawa
Metro Winnipeg
Nepean/Barrhaven News
Norfolk News
Orleans News
Ottawa East News
Ottawa South News
Ottawa West News
Our London
Quinte West News
St. Lawrence News
St. Mary’s Journal-Argus
(and the St. Mary’s Weekender)
St. Thomas/Elgin Weekly News
Stittsville News
Stratford City Gazette
West Carleton Review
Properties sold by Postmedia to Torstar
24 Hours Toronto
24 Hours Vancouver
Barrie Examiner
Bradford Times
Collingwood Enterprise Bulletin
Fort Erie Times
Innisfil Examiner
Inport News (Port Colborne)
Niagara Advance
Niagara Falls Review
Northumberland Today
Orillia Packet & Times
Pelham News
Peterborough Examiner
St. Catharines Standard
Thorold Niagara News
Welland Tribune
查看原文...
