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'''Postmedia Network Canada Corporation''' ({{TSX|PNC.A|PNC.B}}) is a [[Canada|Canadian]] media company headquartered in [[Toronto]], [[Ontario]], consisting of the publishing properties of the former [[Canwest]], with primary operations in newspaper publishing, news gathering and Internet operations. |
'''Postmedia Network Canada Corporation''' ({{TSX|PNC.A|PNC.B}}) is a [[Canada|Canadian]] media company headquartered in [[Toronto]], [[Ontario]], consisting of the publishing properties of the former [[Canwest]], with primary operations in newspaper publishing, news gathering and Internet operations. |
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The ownership group was assembled by ''[[National Post]]'' CEO [[Paul Godfrey]]<ref name="thestar_2015" /> in 2010 to bid for the chain of newspapers being sold by the financially troubled Canwest (the company's broadcasting assets were sold separately to [[Shaw Communications]]). Godfrey secured financial backing from U.S. private-equity firm, a Manhattan-based hedge fund, Golden Tree Asset Management—which owns 35-per-cent—as well as other investors.<ref name="thestar_2015">{{cite web | url=http://www.thestar.com/business/2015/01/23/postmedia-and-the-heavy-price-it-pays-to-survive-olive.html | title=Postmedia and the heavy price it pays to survive: Olive | date=23 January 2015 | accessdate=22 February 2016 | author=Olive, David |location=Toronto, ON}}</ref> The group completed a $1.1 billion transaction to acquire the chain from Canwest on July 13, 2010. The company has over 3,200 employees.<ref> |
The ownership group was assembled by ''[[National Post]]'' CEO [[Paul Godfrey]]<ref name="thestar_2015" /> in 2010 to bid for the chain of newspapers being sold by the financially troubled Canwest (the company's broadcasting assets were sold separately to [[Shaw Communications]]). Godfrey secured financial backing from U.S. private-equity firm, a Manhattan-based hedge fund, Golden Tree Asset Management—which owns 35-per-cent—as well as other investors.<ref name="thestar_2015">{{cite web | url=http://www.thestar.com/business/2015/01/23/postmedia-and-the-heavy-price-it-pays-to-survive-olive.html | title=Postmedia and the heavy price it pays to survive: Olive | date=23 January 2015 | accessdate=22 February 2016 | author=Olive, David |location=Toronto, ON}}</ref> The group completed a $1.1 billion transaction to acquire the chain from Canwest on July 13, 2010. The company has over 3,200 employees.<ref>{{cite report |url=http://www.postmedia.com/wp-content/uploads/2013/11/2013-AIF-FINAL.pdf |format=PDF |title="Postmedia Network Annual Information Form" |work=Postmedia Network Canada Corporation|date=November 2013 |accessdate=February 21, 2016}}</ref> The company's shares were listed on the [[Toronto Stock Exchange]] in 2011.<ref>{{citation |url=http://business.financialpost.com/2011/06/14/postmedia-begins-trading-on-tsx/ |title=Postmedia begins trading on TSX |work=''[[Financial Post]]'' |date=June 14, 2011|accessdate=February 21, 2016}}</ref> |
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The company's strategy has seen its publications invest greater resources in digital news gathering and distribution, including expanded [[website]]s and digital news apps for smartphones and tablets.<ref name=citizen>[http://www.cbc.ca/news/business/postmedia-revamps-ottawa-citizen-s-digital-service-1.2648645 "Postmedia revamps Ottawa Citizen's digital service"]. [[CBC News]], May 20, 2014.</ref> This began with a revamp and redesign of the ''[[Ottawa Citizen]]'', which debuted in 2014.<ref name=citizen /> |
The company's strategy has seen its publications invest greater resources in digital news gathering and distribution, including expanded [[website]]s and digital news apps for smartphones and tablets.<ref name=citizen>[http://www.cbc.ca/news/business/postmedia-revamps-ottawa-citizen-s-digital-service-1.2648645 "Postmedia revamps Ottawa Citizen's digital service"]. [[CBC News]], May 20, 2014.</ref> This began with a revamp and redesign of the ''[[Ottawa Citizen]]'', which debuted in 2014.<ref name=citizen /> |
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==History== |
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On July 13, 2010 the Manhattan-based hedge fund, Golden Tree Asset Management acquired the Asper family’s bankrupt [[CanWest]] media empire for $1.1 billion.<ref name="thestar_2015" /> |
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==Acquisitions and mergers== |
==Acquisitions and mergers== |
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===Other properties=== |
===Other properties=== |
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* [[Postmedia News]] |
* [[Postmedia News]] |
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A decades-long heated rivalry and circulation war began 1950s and 1960s between the Liberal/left/socialist [[Toronto Star]] and the "steadfastly Conservative, Royalist and right-wing" [[Toronto Telegram]], located on Bay and Melinda St. and owned in the early 1950s by a "wealthy deal-maker named George McCullagh."<ref name="nationalpost19feb2016">{{cite web | url=http://news.nationalpost.com/news/the-falling-star-no-cash-in-its-dowry-declining-revenues-and-no-obvious-marriage-prospects | title=A falling Star: No cash in its dowry, declining revenues and no obvious marriage prospects | publisher=nationalpost | date=19 February 2016 | accessdate=22 February 2016 | author=Corcoran, Terence}}</ref> |
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==See also== |
==See also== |
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It has been suggested that Postmedia Newsbemerged into this article. (Discuss) Proposed since April 2014.
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| Company type | Public |
|---|---|
| TSX: PNC.A TSX: PNC.B | |
| Industry | Newspaper publishing |
| Predecessor | Canwest Global Communications Corporation |
| Founded | 2010 |
| Headquarters | Toronto, Ontario, Canada |
Key people | Paul Godfrey - President |
| Products | Newspapers |
| Revenue |  CAD$674.255 million (2014)[1] |
Number of employees | 2,826[2] |
| Subsidiaries | Postmedia News |
| Website | Postmedia Network |
Postmedia Network Canada Corporation (TSX: PNC.A, PNC.B) is a Canadian media company headquartered in Toronto, Ontario, consisting of the publishing properties of the former Canwest, with primary operations in newspaper publishing, news gathering and Internet operations.
The ownership group was assembled by National Post CEO Paul Godfrey[3] in 2010 to bid for the chain of newspapers being sold by the financially troubled Canwest (the company's broadcasting assets were sold separately to Shaw Communications). Godfrey secured financial backing from U.S. private-equity firm, a Manhattan-based hedge fund, Golden Tree Asset Management—which owns 35-per-cent—as well as other investors.[3] The group completed a $1.1 billion transaction to acquire the chain from Canwest on July 13, 2010. The company has over 3,200 employees.[4] The company's shares were listed on the Toronto Stock Exchange in 2011.[5]
The company's strategy has seen its publications invest greater resources in digital news gathering and distribution, including expanded websites and digital news apps for smartphones and tablets.[6] This began with a revamp and redesign of the Ottawa Citizen, which debuted in 2014.[6]
On July 13, 2010 the Manhattan-based hedge fund, Golden Tree Asset Management acquired the Asper family’s bankrupt CanWest media empire for $1.1 billion.[3]
On October 6, 2014, Postmedia's CEO Godfrey announced a deal to acquire the English-language operations of the Sun Media Corporation.[7][3] The purchase got regulatory approval from the federal Competition Bureau on March 25, 2015,[8] even though the company manages competitive papers in several Canadian cities; while the Sun Media chain owns numerous other papers, four of its five Sun-branded tabloids operate in markets where Postmedia already publishes a broadsheet competitor.[7] Board chair Rod Phillips has cited the Vancouver market — in which the two main daily newspapers, the Vancouver Sun and The Province — have had common ownership for over 30 years as evidence that the deal would not be anticompetitive.[7] The purchase did not include Sun Media's now-defunct Sun News Network.[7] The acquisition was approved by the Competition Bureau on March 25, 2015.,[9] and closed on April 13.[10]
Postmedia owns newspapers that serve smaller communities across Canada, including:
A decades-long heated rivalry and circulation war began 1950s and 1960s between the Liberal/left/socialist Toronto Star and the "steadfastly Conservative, Royalist and right-wing" Toronto Telegram, located on Bay and Melinda St. and owned in the early 1950s by a "wealthy deal-maker named George McCullagh."[11]
Other media groups in Canada include:
{{citation}}: Italic or bold markup not allowed in: |work= (help)
