• by Ray Schultz , August 28, 2024

Postmedia, publisher of the National Post and the Montreal Gazette, has acquired SaltWire Network, an owner of daily and weekly newspapers in Nova Scotia, Newfoundland, P.E.I. and Labrador.

SaltWire has filed for creditor protection and is headed for insolvency proceedings under Canada’s laws, according to CBC.

The deal reportedly is worth $1 million.  

Critics allege that the purchase will lead to layoffs, the sale of offices and printing facilities, and the reduction of print editions in at least one product, CBC reports.

Postmedia, whose majority owner is U.S. hedge fund Chatham Asset, is based in Toronto and SaltWire is in Halifax.