The Competition Bureau has confirmed in an email they will review a recent deal between Torstar Corp. and Postmedia, which saw the exchange of 41 commuter, local or community newspapers between the two Canadian media organizations on Monday. Of the 41 outlets, all but 5 have been or will be shuttered in the coming weeks, according to releases from Torstar, Postmedia and various media reports. The Competition Bureau also acknowledged that Postmedia initially claimed in its release that the merger was not “subject to the merger notification provisions of the Competition Act and no...
Postmedia Network Canada Corp. reported a loss of $35.8 million for its fourth quarter of 2013, down from a loss of $28.4 million in the same period a year earlier. The company said in a release Thursday, announcing its year-end and fourth-quarter results for the period ending Aug. 31, that its losses deepened primarily as a result of ad revenue declines. Postmedia’s revenues in the three-month period were $169.3 million, falling $20.8 million, or 10.9 per cent, from the same period a year earlier. For the 12-month period ending Aug. 31, revenue of $751.6 million was $80.3 million or 9.7 per cent lower than the previous year, as print advertising revenue dropped by $69.4 million or 13.5 per cent. Print circulation revenue for the year also fell by $13.3 million, or 6.3 per cent,...
Postmedia Network Canada Corp. reported a print advertising decline of $17.7 million, or 13 per cent, in its third quarter of 2013 as digital revenues rose by about two per cent from a year earlier. For its third quarter ending May 31, the company, which owns a national chain of newspapers and websites including...