Postmedia has entered an agreement to buy SaltWire, Atlantic Canada’s largest newspaper chain, in accordance to a information launch issued Friday.
SaltWire has been beneath creditor safety since March. It publishes greater than 20 papers in Atlantic Canada, together with The Chronicle Herald in Halifax, The Guardian in Charlottetown, and The Telegram in St. John’s, together with related web sites.
In the discharge, the Canadian information media firm stated the potential acquisition aligns with Postmedia’s dedication to preserving native journalism and supporting communities.
“If the transaction can be completed, Postmedia intends to provide the necessary back office resources and operational infrastructure to ensure there continues to be reliable and high-quality local news provided to the affected communities,” stated Postmedia president and CEO Andrew MacLeod.
It was not clear from the information launch whether or not Postmedia intends to protect all of SaltWire’s titles.
“Readers would continue to enjoy stories reported by local journalists, supported by the voices and opinions that Canadians across the country rely on for information, diverse perspectives, and unique insights into national and international developments,” the discharge stated.
Postmedia did describe the present operations of SaltWire as unsustainable, although, and stated closing the deal would require co-operation from the corporate’s workforce.
“In order to save critical journalism jobs, we will need the support of the relevant unions to help construct a viable business model,” MacLeod stated.
Willy Palov is the president of the Halifax Typographical Union, CWA 30130.
We’re happy to see a purchaser step ahead.— Willy Palov, union president
“We’re pleased to see a buyer step forward,” he informed CBC News in an e-mail on Friday. “The news is still fresh, and we don’t have all the details yet, so the members and I will have to review the proposed terms before we can say a whole lot more.”
Ian Scott, chief working officer for SaltWire Network, stated he couldn’t touch upon the acquisition right now.
Given ongoing monetary hassle at SaltWire, Postmedia stated it could like to shut the deal as early as Aug. 5, and Aug. 26 on the newest.
Importance of native information
Retired journalist Gary MacDougall labored for The Guardian in Charlottetown for 47 years, together with a while as managing editor. He stated his preliminary response upon listening to the information was that it is each constructive and detrimental.
“The good news is that Postmedia is a reputable national media organization, an organization that knows the business,” he stated.
One factor a few good previous native newspaper is you decide it up and you discover out what is going on on domestically.— Gary MacDougall, retired managing editor
MacDougall stated he believes the workers of the newspapers will likely be grateful bankruptcies have been dodged, however stated they might have considerations about their future nonetheless.
With a nationwide firm taking the helm, MacDougall stated his major concern is for P.E.I. residents shedding an ultra-local information supply.
“It’s so easy nowadays for people to live in their little media bubbles,” he stated. “One thing about a good old local newspaper is you pick it up and you find out what’s going on locally.”
Journalist Stephen Maher labored for each corporations over the course of his profession, having served because the Ottawa bureau chief for the Halifax Chronicle Herald from 2004-2011, after which as a nationwide columnist for Postmedia.
Maher informed CBC News he needs the Chronicle Herald might keep within the palms of Atlantic Canadians, because it did for a lot of many years after the Dennis household took it over in 1907.
Now, he stated over Zoom, “All we can do is hope that this will help preserve journalism throughout the region.”
Few cuts left to make
Maher stated he does not count on Postmedia to lower many staff, “because I’m not sure that there’s that many bodies to be cut.”
He pointed to the shrinkage of newspapers not simply within the Maritimes, however throughout North America in recent times.
“We are in an era where newspapers are not what they were. The Chronicle Herald used to have bureaus in Ottawa, in London, England, in Toronto and Montreal,” Maher stated.
“There’s no point comparing the Chronicle Herald of 2024 to the Chronicle Herald of 1950.”
But even if newsrooms are shrinking, Maher stated he takes solace in the truth that there are nonetheless respected journalists working in them.
“It’s a tough kind of news today, but the Herald’s still going to be published tomorrow… and there really are some fantastic people there,” he stated.
“And they’re not going to give up. They’re going to keep doing their best to bring the news to people.”
