By William Turvill
Canada’s Postmedia Network has agreed a deal to buy local publisher Brunswick News Inc (BNI) from JD Irving Ltd.
Postmedia, which already owns the National Post, Vancouver Sun and Calgary Herald, has agreed to pay CA$7.5m in cash and CA$8.6m in shares.
BNI publishes several daily and weekly newspapers in the Canadian province of New Brunswick, including the Telegraph-Journal, Times Globe and the Daily Gleaner.
“Postmedia believes that BNI’s Eastern Canada operations are highly complementary to our existing business and strongly align with our strategic priorities,” said Andrew MacLeod, president and chief executive of Postmedia.
“These 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.”
Source: Press release
Deal size: CA$16m
Country: Canada
Status: Official
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