donoreo Premium Member join:2002-05-30 North York, ON |
donoreo
Premium Member
2014-Oct-6 8:55 am
Quebecor sells English Sun Media papers to PostmediaFrom 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. |
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donoreo |
donoreo
Premium Member
2014-Oct-6 8:58 am
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. |
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Ian1 Premium Member join:2002-06-18 ON |
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. |
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elwoodbluesElwood Blues Premium Member join:2006-08-30 Somewhere in |
to donoreo
I'd be very suprised if this goes through, talk about media concentration. |
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donoreo Premium Member join:2002-05-30 North York, ON |
donoreo
Premium Member
2014-Oct-6 9:05 am
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. |
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Ian1 Premium Member join:2002-06-18 ON |
Ian1
Premium Member
2014-Oct-6 9:07 am
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? |
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donoreo Premium Member join:2002-05-30 North York, ON |
donoreo
Premium Member
2014-Oct-6 9:18 am
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. |
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Ian1 Premium Member join:2002-06-18 ON |
Ian1
Premium Member
2014-Oct-6 9:27 am
said by donoreo:My father in law. Takes him days to read them. I meant the whole things. Buildings, printing presses, pension liabilities, etc... |
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donoreo Premium Member join:2002-05-30 North York, ON |
donoreo
Premium Member
2014-Oct-6 9:28 am
He is well off, but not newspaper buying well off |
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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? |
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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? |
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donoreo Premium Member join:2002-05-30 North York, ON |
donoreo
Premium Member
2014-Oct-6 10:50 am
The Post has always leaned right, just not stupid right like Sun. |
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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. |
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KardinalDei Gratina Regina Mod join:2001-02-04 N of 49th |
to donoreo
said by donoreo:The Post has always leaned right, just not stupid right like Sun. Increased truthiness. |
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MaynardKrebsWe did it. We heaved Steve. Yipee. Premium Member join:2009-06-17 |
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". |
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GuspazGuspaz MVM join:2001-11-05 Montreal, QC |
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. |
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elwoodbluesElwood Blues Premium Member join:2006-08-30 Somewhere in |
to donoreo
$64 question, what happens to Faux News North now? It's 25% owned by Sun Media, and is a huge money loser. |
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elwoodblues |
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. |
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MichelR join:2011-07-03 Trois-Rivieres, QC |
to donoreo
Comment seen today: "$316 millions is a lot of money for birdcage liner." |
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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.... |
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