Tuesday, October 18, 2011

Glacier Media to acquire B.C. papers from Postmedia for $86.5 million

Glacier Media Inc.says it will buy the Victoria Times-Colonist and other daily and community papers in British Columbia, continuing a recent wave of deals in the Canadian newspaper industry. The $86.5 million acquisition from Postmedia Network Inc. also includes two other dailies and 20 weekly and bi-weekly community papers and related digital media and real estate assets. The community newspapers Glacier is buying are on the B.C. Lower Mainland and Vancouver Island. Glacier president and CEO John Kennedy said the deal significantly increases Glacier's presence in B.C. and gives the Vancouver-area based publisher the broadest local newspaper coverage in Western Canada.

No comments:

Blog Archive