'Postmedia Network Inc., a wholly owned subsidiary of Postmedia Network Canada Corp. (“Postmedia” or “the Company”) today announced a definitive agreement to sell its media monitoring division Infomart to Meltwater News Canada Inc., a global leader in media intelligence, for gross proceeds of $38.25 million, subject to adjustments. An amount equal to 15% of the purchase price will be paid into escrow to satisfy claims arising under the purchase agreement. The net proceeds from the sale will be used for debt repayment."
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