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

How outrage culture changes the rules for crisis management

David Gordon and Paul Lawton share tip for successful outrage management

Updated Environics data tool shows you the money

New data aides financial planning, fundraising, marketing and merchandising

Much Digital Studios announces first brand partnerships

Content will appear online and associated digital properties

Yellow Pages introduces a bigger, better Western Living

'We're going to be luxury and more' says publisher Tom Gierasimczuk

Maxus hires Devyn Perry to oversee BMO account

Career includes stints with Starcom, Vizeum

The sky is the limit for Holts

Luxury retailer partners with Air Canada on new in-flight channel

Canadian TV advertising continues to slide: StatsCan

Ad sales dropped by nearly $200 million between 2011 and 2014

Virool brings its in-line video solution to Canada

Alicia Elliott to lead sales for California-based company