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

WestJet’s expert social media response to bomb hoaxes

The airline's transparent approach has helped calm nerves

New survey tracks the divide between online and broadcast

Many find their faves online and show little knowledge of the new fall schedule

Lexus gets Maclean’s cover treatment

Automaker gets in early on cover/table of contents offering

Bell Media strikes with Women’s World Cup

Canada's five matches average 4 million viewers

Canadians continue ‘tuning out’ of traditional TV: MTM

Study shows slow, steady shift to smart devices and new media

PR agency leads should only follow on Twitter (column)

Veritas' Krista Webster says PR agency bosses have 'absolutely no right' to tweet

How VW gets beyond TV to connect with drivers

Can an industry built on TV advertising find relevance online?

Microsoft strikes deals with AOL for display ads

Street image mapping service sold to Uber

Mobile made up a quarter of Canada’s online spend in 2014

IAB annual revenue survey shows gap widening between digital and TV