Postmedia Network Inc., a wholly owned subsidiary of Postmedia Network Canada Corp., has announced a definitive agreement to sell the Winnipeg Sun, The Graphic Leader and Kenora Miner & News to The Klein Group Ltd.
“We are pleased to have reached an agreement with a local group that will continue Postmedia’s long tradition of providing trusted and valuable journalism in these important markets,” said Andrew MacLeod, president and CEO of Postmedia. “Our teams in Winnipeg, Portage and Kenora produce quality work that is critically important to their communities, and we’re thrilled that will continue under the new ownership group. Each paper’s local team will continue to be supported by the voices and opinions from Postmedia that Canadians rely on for information, diverse perspectives and unique insights into national and international developments.”
Employees at each of the newspapers are expected to continue in their role, with no job losses anticipated. Non-unionized employees will be offered their same job with the Klein Group, while unionized employees will retain their current terms as presently contracted.
Included in the transaction is Postmedia’s Winnipeg Press Commercial Print division, all associated digital properties, contracts and other related parts of the businesses.
“In an age where information is abundant and easily accessible, the role of local journalism is more crucial today than ever before,” said Kevin Klein, president and CEO of the Klein Group. “We are honoured to take ownership of these local newspapers and are dedicated to preserving their legacy of providing trusted, community-focused news. Our continued relationship with Postmedia will ensure that our readers benefit from both local insights and national perspectives, reaffirming our commitment to delivering comprehensive and relevant news coverage.”
The deal is scheduled to close on or about June 1 at 12:01 a.m., subject to the satisfaction or waiver of certain conditions, including the entering into of certain ancillary agreements.
About Postmedia Network Canada Corp.:
Postmedia Network Canada Corp. (TSX:PNC.A, PNC.B) is the holding company that owns Postmedia Network Inc., a Canadian newsmedia company representing more than 130 brands across multiple print, online, and mobile platforms. Award-winning journalists and innovative product development teams bring engaging content to millions of people every week whenever and wherever they want it. This exceptional content, reach and scope offers advertisers and marketers compelling solutions to effectively reach target audiences Our expertise in home delivery and expanding distribution network powers Postmedia Parcel Services. For more information, visit www.postmedia.com, www.postmediasolutions.com and www.postmediaparcelservices.com.
About the Klein Group:
The Klein Group is a Manitoba-based company dedicated to providing local, factual, and unbiased news across multiple platforms, including print, online, and mobile. Owned entirely by Manitobans, the Klein Group believes that local news plays a vital role in highlighting issues that directly impact our daily lives, from municipal governance to community events, fostering a sense of connection and accountability. By ensuring its news is factual and unbiased, the Klein Group upholds the principles of journalistic integrity, helping its audience navigate complex social, political, and economic landscapes with clarity and confidence. This commitment to truth and transparency not only strengthens our democracy but also promotes a more informed and cohesive society. Additionally, through partnerships with leading businesses, the Klein Group offers a full suite of tools to businesses across Manitoba, with extensive digital and print experience, which includes creating exceptional content to market any business or product, targeted reach, and innovative marketing solutions to effectively reach target audiences in Manitoba and around the globe.
Comments
No comments on this item Please log in to comment by clicking here