Postmedia and Torstar barter dozens of tiny newspapers, Postmedia shutting 22 of them

Postmedia and Torstar have substituted some-more than 40 internal village newspapers with any other, and many are unfailing to be tighten down.

The media companies announced in a press recover Monday morning that Postmedia would buy dual dozen village newspapers and two free commuter dailies from Torstar, and during a same time sell 17 newspapers — 15 village papers and dual big-city giveaway commuter dailies — to Torstar.

No money altered hands during a deal, as a papers “have approximately identical satisfactory values,” Postmedia said.

Postmedia is getting:

• Belleville News.
• Brant News.
• Central Hastings News.
• Exeter Times-Advocate.
• The Exeter Weekender.
• Frontenac Gazette.
• Kanata Kourier-Standard.
• Kingston Heritage.
• Meaford Express.
• Nepean/Barrhaven News.
• Norfolk News.
• Orleans News.
• Ottawa East News.
• Ottawa South News.
• Ottawa West News.
• Our London.
• Quinte West News.
• St. Lawrence News.
• St. Mary’s Journal-Argus.
• The St. Mary’s Weekender.
• St. Thomas/Elgin Weekly News.
• Stittsville News.

In addition, Postmedia will acquire a giveaway commuter newspapers, Metro Ottawa and Metro Winnipeg. Postmedia already owns other newspapers in both of those cities.

With a difference of the Exeter Times-Advocate and a Exeter Weekender, all of a above papers will be tighten down by a center of January. That will outcome in a detriment of approximately 244 jobs.

“The stability costs of producing dozens of tiny village newspapers in these regions in a face of significantly disappearing promotion revenues means that many of these operations no longer have viable business models,” Postmedia chair Paul Godfrey said.

In return, Torstar is removing these newspapers:

• Barrie Examiner.
• Bradford Times.
• Collingwood Enterprise Bulletin.
• Fort Erie Times.
• Innisfil Examiner.
• Inport News (Port Colborne).
• Niagara Advance.
• Niagara Falls Review.
• Northumberland Today.
• Orillia Packet and Times.
• Pelham News.
• Peterborough Examiner.
• St. Catharines Standard.
• Thorold Niagara News.
• Welland Tribune.
• Stratford City Gazette.
• West Carleton Review.

Torstar will also get dual new giveaway commuter newspapers in vital cities, 24 Hours Toronto and 24 Hours Vancouver.

In a release, Torstar gave no denote of any skeleton to tighten any of a new properties, though pronounced it expects to comprehend between $5 million and $7 million value of cost-saving synergies as a outcome of a move.

While there’s no discuss of closures in a press release, a Toronto Star (which is owned by Torstar) reported Monday that the Barrie Examiner, Orillia Packet and Times, Northumberland Today, a Bradford Times, Collingwood Enterprise Bulletin, Fort Erie Times, Innisfil Examiner, Niagara Advance, Pelham News, Inport News (Port Colborne) and a Thorold Niagara News will all close.

Daily papers in St. Catharines, Niagara Falls, Welland and Peterborough will sojourn open, a Star reported.

“By appropriation publications within or adjacent to the primary areas and offered publications outward the primary areas, we will be means to put a larger concentration on regions where we trust we can be some-more effective in portion both business and clients,” Torstar arch executive John Boynton said.

Article source: http://www.cbc.ca/news/business/postmedia-torstar-1.4420955?cmp=rss