{"id":164166,"date":"2022-02-18T10:07:29","date_gmt":"2022-02-18T14:07:29","guid":{"rendered":"https:\/\/huddle.today\/?p=164166"},"modified":"2022-02-18T13:45:11","modified_gmt":"2022-02-18T17:45:11","slug":"postmedia-to-acquire-irving-owned-newspapers","status":"publish","type":"post","link":"https:\/\/huddle.today\/2022\/02\/18\/postmedia-to-acquire-irving-owned-newspapers\/","title":{"rendered":"Postmedia To Acquire Irving-Owned Newspapers"},"content":{"rendered":"<span class=\"rt-reading-time\" style=\"display: block;\"><span class=\"rt-label rt-prefix\">Reading Time: <\/span> <span class=\"rt-time\">2<\/span> <span class=\"rt-label rt-postfix\">minutes<\/span><\/span><h4><span style=\"color: #000000;\">SAINT JOHN&#8211;A Toronto-based media company is acquiring every Irving-owned newspaper in New Brunswick.<\/span><\/h4>\n<p><span style=\"color: #000000;\">Postmedia announced the acquisition of Brunswick News Inc. (BNI)\u00a0<span style=\"color: #1cb1f3;\"><a style=\"color: #1cb1f3;\" href=\"https:\/\/www.postmedia.com\/2022\/02\/17\/postmedia-to-acquire-brunswick-news-inc-and-extend-maturity-of-its-first-and-second-lien-notes\/\" target=\"_blank\" rel=\"noopener\"><strong>in a news release late Thursday<\/strong><\/a><\/span>. Postmedia owns more than 100 newspapers across Canada, including the National Post, Calgary Herald, and Vancouver Sun.<br \/>\n<\/span><\/p>\n<p><span style=\"color: #000000;\">BNI, which is currently owned by J.D. Irving, Ltd. (JDI), publishes nine daily and weekly papers, including:<\/span><\/p>\n<ul>\n<li><span style=\"color: #000000;\">The Telegraph-Journal;<\/span><\/li>\n<li><span style=\"color: #000000;\">Times And Transcript;<\/span><\/li>\n<li><span style=\"color: #000000;\">The Daily Gleaner;<\/span><\/li>\n<li><span style=\"color: #000000;\">Bathurst Northern Light;<\/span><\/li>\n<li><span style=\"color: #000000;\">Miramichi Leader;<\/span><\/li>\n<li><span style=\"color: #000000;\">Woodstock Bugle-Observer;<\/span><\/li>\n<li><span style=\"color: #000000;\">The Victoria Star;<\/span><\/li>\n<li><span style=\"color: #000000;\">Kings County Record;<\/span><\/li>\n<li><span style=\"color: #000000;\">The Campbellton Tribune.<\/span><\/li>\n<\/ul>\n<p><span style=\"color: #000000;\">\u201cWe are pleased that Postmedia, one of Canada\u2019s largest media organizations, will acquire all of our newspapers and media products through the purchase of Brunswick News, which represents an exit from the media business by J.D. Irving, Limited,\u201d Jim Irving, co-CEO of JDI, said in the release.<\/span><\/p>\n<p><span style=\"color: #000000;\">\u201cPostmedia is well positioned to make the transition to the digital world of providing New Brunswickers with a reliable source of local, regional and national news as well as access to much broader news coverage.\u201d<\/span><\/p>\n<p><span style=\"color: #000000;\">The proposed acquisition will also include BNI\u2019s parcel delivery business and the \u201cproprietary distribution software\u201d powering it, according to the release.<\/span><\/p>\n<p><span style=\"color: #000000;\">Andrew MacLeod, president and CEO of Postmedia, said he believes BNI\u2019s Eastern Canada operations complement their existing business and strongly align with their strategic priorities.<\/span><\/p>\n<p><span style=\"color: #000000;\">\u201cThese titles have a proud history of providing excellent journalism across New Brunswick and we look forward to continuing that legacy. The addition of BNI brands allows Postmedia to serve audiences and marketers from the Pacific to the Atlantic while we continue to build out a national distribution platform and network for our parcel delivery business,\u201d MacLeod said in the release.<\/span><\/p>\n<p><span style=\"color: #000000;\">In exchange for the acquisition, JDI will receive $7.5 in cash and $8.6 million in variable voting shares of Postmedia.<\/span><\/p>\n<p><span style=\"color: #000000;\">The proposed transaction is subject to various closing conditions, including approval of the Toronto Stock Exchange.<\/span><\/p>\n<p><em>Brad Perry is the news director with <\/em><a href=\"https:\/\/www.country94.ca\/\"><em><span style=\"color: #1cb1f3;\">CHSJ\/Country 94<\/span><\/em><\/a><em>, Huddle content partners.<\/em><\/p>\n<!--themify_builder_content-->\n<div id=\"themify_builder_content-164166\" data-postid=\"164166\" class=\"themify_builder_content themify_builder_content-164166 themify_builder tf_clear\">\n    <\/div>\n<!--\/themify_builder_content-->\n","protected":false},"excerpt":{"rendered":"<p>The deal includes nine Irving newspapers, as well as other media products and the company&#8217;s parcel delivery business.<\/p>\n","protected":false},"author":369,"featured_media":164167,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"pmpro_default_level":0,"footnotes":"","_expiration-date-status":"","_expiration-date":0,"_expiration-date-type":"","_expiration-date-categories":[],"_expiration-date-options":[]},"categories":[33688,33687,33684,25241,33686],"tags":[35017,25965,29132,35016,32322,35018,35019],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.8 - 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