HALIFAX, NS,
July 30,
2024 /CNW/ - SaltWire Network Inc., Atlantic Canada's largest media company, and
The Halifax Herald Limited have entered into an agreement to sell
certain businesses and assets to Postmedia Network Inc., a wholly
owned subsidiary of Postmedia Network Canada Corp.
("Postmedia").
This strategic transaction comes as SaltWire continues to
operate under Companies' Creditors Arrangement Act ("CCAA")
protection.
SaltWire Network has a long-standing tradition of delivering
trusted news and diverse perspectives to Atlantic Canadians through
its portfolio of over a dozen media titles.
The completion of the acquisition is subject to various
conditions, including successful negotiations with unions, the
finalization of transaction documentation, and court approval.
"SaltWire's publications, including The Chronicle Herald, Cape
Breton Post, The Guardian, The Telegram and The Journal Pioneer
have steep histories in their communities," said David Boyd, Court appointed Chief Restructuring
Officer for the businesses.
"We are hopeful that all stakeholders can work together to
complete the Postmedia transaction, which is intended to see
Atlantic-based journalism publications continue.""
About SaltWire Network Inc.
SaltWire Network Inc. is Atlantic
Canada's largest media company, delivering trusted news and
information through a diverse portfolio of media titles. Committed
to serving the local communities, SaltWire provides comprehensive
coverage of regional, national, and international news.
SOURCE SaltWire Network