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donoreo
Premium Member
join:2002-05-30
North York, ON

donoreo

Premium Member

Quebecor sells English Sun Media papers to Postmedia

From 680 News:

Quebecor sells English papers to Postmedia for $316M

Postmedia Network Canada Corp. says it is buying Sun Media Corp.'s English-language operations, consisting of 175 newspapers and publications, including the Sun chain of daily newspapers, from Quebecor for $316 million.

So the Postmedia will own the Post and the Sun?

Expect more layoffs, if there is anyone left, at the Sun.
donoreo

donoreo

Premium Member

Actually it is full circle. Sun Media owned the Financial Post before selling it to Conrad Black in 1997. He developed the Financial Post into the National Post a year or so later.

Ian1
Premium Member
join:2002-06-18
ON

Ian1 to donoreo

Premium Member

to donoreo
said by donoreo:

Expect more layoffs, if there is anyone left, at the Sun.

Then again perhaps there might be Sunshine Girls in the Post.

elwoodblues
Elwood Blues
Premium Member
join:2006-08-30
Somewhere in

elwoodblues to donoreo

Premium Member

to donoreo
I'd be very suprised if this goes through, talk about media concentration.

donoreo
Premium Member
join:2002-05-30
North York, ON

donoreo

Premium Member

I am sure there will be some juggling of assets to come to get it approved. It is a dying industry so I think it will happen.

Ian1
Premium Member
join:2002-06-18
ON

Ian1

Premium Member

said by donoreo:

It is a dying industry so I think it will happen.

Which is why I am surprised Post media paid more than $1 for them. Who buys a newspaper (the whole thing, not each) these days?

donoreo
Premium Member
join:2002-05-30
North York, ON

donoreo

Premium Member

My father in law. Takes him days to read them. He reads the financial sections and sports right away and then leaves the rest for later.

Ian1
Premium Member
join:2002-06-18
ON

Ian1

Premium Member

said by donoreo:

My father in law. Takes him days to read them.

I meant the whole things. Buildings, printing presses, pension liabilities, etc...

donoreo
Premium Member
join:2002-05-30
North York, ON

donoreo

Premium Member

He is well off, but not newspaper buying well off
telco_mtl
join:2012-01-06

telco_mtl to donoreo

Member

to donoreo
i wonder how from a corporate standpoint Quebecor is going to treat its flagships the JdeM and the JdeQ. they are run by sunmedia right now and quebecor is liking that cheaper ontario tax rate. Will they open a toronto shell office?

Hydraglass
Premium Member
join:2002-05-08

Hydraglass to donoreo

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to donoreo
Any idea how this will impact the political leanings of all of the Sun publications? Does Postmedia maintain the strong right leanings of the Sun Media properties as Quebecor did, or will they become more centrist?

donoreo
Premium Member
join:2002-05-30
North York, ON

donoreo

Premium Member

The Post has always leaned right, just not stupid right like Sun.

Thane_Bitter
Inquire within
Premium Member
join:2005-01-20

Thane_Bitter to donoreo

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to donoreo
Seems overvalued, I don't think Canadians have that many bird cages or cat boxes to line with the Sun.

Kardinal
Dei Gratina Regina
Mod
join:2001-02-04
N of 49th

Kardinal to donoreo

Mod

to donoreo
said by donoreo:

The Post has always leaned right, just not stupid right like Sun.

Increased truthiness.
MaynardKrebs
We did it. We heaved Steve. Yipee.
Premium Member
join:2009-06-17

MaynardKrebs to Ian1

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to Ian1
said by Ian1:

said by donoreo:

Expect more layoffs, if there is anyone left, at the Sun.

Then again perhaps there might be Sunshine Girls in the Post.

I wanna see Ezra Levant buck naked on Page 3.
They can caption the photo "Guttersnipe".

Guspaz
Guspaz
MVM
join:2001-11-05
Montreal, QC

Guspaz to donoreo

MVM

to donoreo
IIRC the property owned by Sun is worth $50-60 million by itself.

JF was speculating that this is intended to help fund Quebecor's planned national network expansion.

elwoodblues
Elwood Blues
Premium Member
join:2006-08-30
Somewhere in

elwoodblues to donoreo

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to donoreo
$64 question, what happens to Faux News North now? It's 25% owned by Sun Media, and is a huge money loser.
elwoodblues

elwoodblues to donoreo

Premium Member

to donoreo
QMI lost their shirt on the deal. they bought it in '98 for $983m.

Postmedia is betting the farm on this too, they are putting future subscription money on the line to buy the papers.
MichelR
join:2011-07-03
Trois-Rivieres, QC

MichelR to donoreo

Member

to donoreo
Comment seen today: "$316 millions is a lot of money for birdcage liner."
PX Eliezer1
Premium Member
join:2013-03-10
Zubrowka USA

PX Eliezer1 to Ian1

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to Ian1
said by Ian1:

Who buys a newspaper (the whole thing, not each) these days?

Because so few people buy "each" is exactly why no one wants the "whole thing".

Even the NY Times newsroom just announced massive layoffs.

Print newspapers are dying/dead unfortunately....