Halifax-based SaltWire Network has filed a lawsuit
against Transcontinental Inc., the CBC reports.
SaltWire
bought 27 papers from Transcontinental in spring 2017.
"Transcontinental
substantially overstated the revenues the business would produce, hid material
facts regarding the condition of its assets and was not forthcoming about a
number of questionable business practices," SaltWire said in a press
release.
The lawsuit
was filed in Nova Scotia
“We have
not received the lawsuit yet, so we haven’t had the opportunity to review it,”
said Francois Olivier, president of TC Transcontinental, said in a statement.
“We are confident that the sale of our media assets in Atlantic Canada was
conducted based on fair, accurate and timely information. We intend to
vigorously defend ourselves in court.”
Meanwhile,
SaltWire said changes are afoot at papers it owns in Newfoundland
and Labrador . The Western Star will become a
free community weekly paper, no longer a paid-for daily. The Labradorian and
the Aurora
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