Glacier to acquire 23 Postmedia newspapers

Glacier Media Inc. is acquiring three daily and 20 weekly and bi-weekly newspapers from Postmedia Network Inc.’s British Columbia holdings for gross proceeds of $86.5 million. The dailies include the Times Colonist, Nanaimo Daily News and Alberni Valley Times. The smaller community papers include North Shore News, Vancouver Courier and Surrey Now. “The transaction allows […]

Glacier Media Inc. is acquiring three daily and 20 weekly and bi-weekly newspapers from Postmedia Network Inc.’s British Columbia holdings for gross proceeds of $86.5 million.

The dailies include the Times Colonist, Nanaimo Daily News and Alberni Valley Times. The smaller community papers include North Shore News, Vancouver Courier and Surrey Now.

“The transaction allows us to pay down debt and focus on our core properties, the ongoing transformation of our, organization and growth areas of our business,” said Paul Godfrey, Postmedia president and CEO, in a statement.

“Postmedia’s business strategy for Fiscal 2012 is transformation and revenue development,” said Godfrey. “As we look ahead, our success will be in finding new opportunities for growth while transforming our organization to meet the very real changes in our industry. We remain committed to our digital first focus now and into the future.”

The deal, which Postmedia said is the result of an unsolicited offer and is expected to close Nov. 30, does not include Postmedia’s Vancouver Sun, The Province or the company’s Windsor-Essex community newspapers.

Media Articles

CTV’s content-driven approach to PR

Pairing traditional press releases with quirky, Buzzfeed-inspired lists

Netflix and Blais go head-to-head at Let’s Talk TV

CRTC's chairs gets testy with the popular online video service

Social Scanner: Tumblr users are rich

Plus: Facebook asks why we hate the ads we hide

Metroland adds new community newspaper in its ‘print renaissance’

East Gwillimbury Express the 11th publication in the York Region Media Group

Set-top box measurement takes the stage at Let’s Talk TV

Numeris, Fourthwall Media and Rentrak advocate for greater use of STB data

W Network’s reality series partners with Kijiji

Online classified site to feature in episodes of Love it or List It

CRTC approves Groupe V’s bid for MusiquePlus, MusiMax

Bell Media agrees to spend $1.5 million on ads with the music services