FP Newspapers Income Fund, owner of a variety of Canadian newspapers, including the Winnipeg Free Press, Brandon Sun and several community papers, says it plans to convert into a corporation. The fund says that unitholders will vote on the matter at its annual meeting scheduled for May 5. Many trusts have been converting to the corporate model in anticipation of new federal rules that will tax most business income trusts like corporations beginning in 2011. If the transfer is approved, the corporation will operate under the name FP Newspapers Inc., the fund said.
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