Postmedia has entered an agreement to purchase SaltWire, Atlantic Canada’s largest newspaper chain, according to a news release issued Friday.
Postmedia has entered an agreement to purchase SaltWire, Atlantic Canada's largest newspaper chain, according to a news release issued Friday.
"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.SaltWire's money woes a sign of bigger problems in the newspaper business: experts
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. Ian Scott, chief operating officer for SaltWire Network, said he could not comment on the acquisition at this time. He pointed to the shrinkage of newspapers not just in the Maritimes, but across North America in recent years.
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