Federal government to pull plug on NewMIC funding: sources

The New Media Innovation Centre (NewMIC) in Vancouver faces possible closure, as the federal government appears set to pull the plug on funding, say credible sources including some close to the situation. No information, however, has been confirmed. The institution’s head, Shahid Hussain, will say only that he will have further information by the end of the weekend. Western Economic Diversification Canada (WED), the institution’s main federal funding body, will only say that its agreement with NewMIC is subject to confidentiality rules, though information may be forthcoming in the wake of concrete developments.