The report says Postmedia is looking to close the deal by Aug. 24, and the offer is scheduled to be presented to a Nova Scotia Supreme Court judge for approval on Thursday
A monitor’s report says Postmedia Network Inc. has put forward a purchase price of $1 million to acquire Atlantic Canada ’s largest newspaper chain. Newspapers owned by SaltWire Network Inc. are photographed in Halifax on Tuesday, March 12, 2024. THE CANADIAN PRESS/Darren CalabreseA monitor’s report says Postmedia Network Inc. has offered $1 million to purchase Atlantic Canada ’s largest newspaper chain.
In March, the two insolvent media companies were granted court-ordered protection from creditors who were owed more than $90 million. The senior secured lender, Fiera Capital, has said SaltWire and The Herald together owe it $32.7 million. Toronto-based Postmedia owns the National Post, Vancouver Sun, Calgary Herald and dozens of other publications.
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