Postmedia’s $1-million bid to acquire Atlantic Canada’s largest newspaper chain is expected to be the subject of a key court hearing today.
The Canadian PressThe Chronicle Herald, SaltWire Network Inc.'s flagship newspaper, is photographed in Halifax on Tuesday, March 12, 2024. Postmedia's $1-million bid to acquire Atlantic Canada's largest newspaper chain is expected to be the subject of a key court hearing Thursday THE CANADIAN PRESS/Darren Calabrese
HALIFAX — A Nova Scotia Supreme Court judge will be asked to approve the Toronto-based company’s bid to acquire SaltWire Network Inc. and The Halifax Herald Ltd. The two insolvent companies publish newspapers and online content in Nova Scotia, P.E.I. and Newfoundland and Labrador. The hearing in Halifax follows intense negotiations between Postmedia and a union representing some workers at the media companies.Among other things, the company wants to wind up pension plans, alter some union contracts and exclude some workers from the union by eliminating their successor rights.
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