Photo: Nathan Denette Archives The canadian Press
The p.-d. g. of Postmedia, Paul Godfrey
Toronto — The media groups Torstar and Postmedia Network will close several weekly regional and local newspapers, including newspapers in Toronto, Vancouver, Winnipeg and Ottawa, the result of an exchange of assets.
Postmedia, which publishes the National Post, announced on Monday that it would close 21 of the 22 regional newspapers acquired by Torstar, the free daily Metro in Winnipeg and Ottawa. These closures will result in the elimination of 244 positions.
For its part, the group, Metroland Media, a Torstar, has indicated that it would close three of the seven daily newspapers ontario) acquired from Postmedia, as well as eight regional weekly.
Torstar closes so the daily Barrie examiner, Orillia Packet Times and the Northumberland Today, which will result in the loss of 46 jobs, full-time or part-time. Torstar intends to retain the other four newspapers acquired from Postmedia : St. Catharines Standard, Niagara Falls Review, Welland Tribune and Peterborough examiner.
Torstar will also disappear the free daily 24Hours in Toronto and Vancouver, which will result in the loss of a job, said.
The two companies stress that the operation will have no effect on their cash flow, since these publications are substantially of equal value.