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Newspapers going down even faster


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#121 VicHockeyFan

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Posted 23 November 2017 - 09:57 AM

Glacier Media (TC's parent):

 

The Company’s community media operations experienced a soft quarter. Ongoing print advertising challenges in the community media industry, combined with economic challenges in certain areas, continue to weigh on the results of the operations. Adjusted revenues for the community media operations declined by 9.8% to $32.4 million while adjusted EBITDA declined by 27.4% to $3.6 million.

 

http://www.glacierme...ses-and-reports

 

Revenue down nearly 10% from same quarter last year, after-tax earnings down over 25%.


Edited by VicHockeyFan, 23 November 2017 - 09:58 AM.


#122 johnk

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Posted 23 November 2017 - 11:21 AM

"...print advertising challenges" aka cratering ad sales.
I ♥euphemisms.

#123 VicHockeyFan

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Posted 27 November 2017 - 12:44 PM

Well, one thing about the shrinking print media landscape, it sure promotes harmonious cooperation among rivals!

 No cash changed hands during the deal, as the papers "have approximately similar fair values," Postmedia said, but the fate of almost all papers is the same — they're destined to be closed either immediately or soon.

Postmedia took over:

  • Belleville News.
  • Brant News.
  • Central Hastings News.
  • Exeter Times-Advocate.
  • The Exeter Weekender.
  • Frontenac Gazette.
  • Kanata Kourier-Standard.
  • Kingston Heritage.
  • Meaford Express.
  • Nepean/Barrhaven News.
  • Norfolk News.
  • Orleans News.
  • Ottawa East News.
  • Ottawa South News.
  • Ottawa West News.
  • Our London.
  • Quinte West News.
  • St. Lawrence News.
  • St. Marys Journal-Argus.
  • The St. Marys Weekender.
  • St. Thomas/Elgin Weekly News.
  • Stittsville News.

In addition, Postmedia will acquire the free commuter newspapers, Metro Ottawa and Metro Winnipeg. Postmedia already owns other newspapers in both of those cities, and plans to shut down Metro in each of them.

The only papers in the deal that Postmedia plans to keep running are the Exeter Times-Advocate and the Exeter Weekender. In total, the closures of all the others will result in the loss of approximately 244 jobs.

"The continuing costs of producing dozens of small community newspapers in these regions in the face of significantly declining advertising revenues means that most of these operations no longer have viable business models," Postmedia chair Paul Godfrey said.

For their part, Torstar got these newspapers:

  • Barrie Examiner.
  • Bradford Times.
  • Collingwood Enterprise Bulletin.
  • Fort Erie Times.
  • Innisfil Examiner.
  • Inport News (Port Colborne).
  • Niagara Advance.
  • Niagara Falls Review.
  • Northumberland Today.
  • Orillia Packet and Times.
  • Pelham News.
  • Peterborough Examiner.
  • St. Catharines Standard.
  • Thorold Niagara News.
  • Welland Tribune.
  • Stratford City Gazette.
  • West Carleton Review.

In addition to the smaller community papers, Torstar also got two new free commuter newspapers in major cities, 24 Hours Toronto and 24 Hours Vancouver. 

As is the case with Postmedia, most of Torstar's new properties are to be shut down, including those two.

Only four papers — St. Catharines Standard, Niagara Falls Review, Welland Tribune and Peterborough Examiner — will continue to operate.

 

http://www.cbc.ca/ne...rstar-1.4420955



#124 Mike K.

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Posted 27 November 2017 - 02:06 PM

This seems like positioning in order to scare the federal government into allocating hundreds of millions of dollars to these organizations which will spend it on bolstering their online presence.

In my opinion, private, corporate media should not be viewed in any other way than any other business. None of them are a utility or “too big to fail.” Are we seriously that naive to believe that without Esquimalt’s Esquimalt News the township and its residents have suffered or have been negatively affected?
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#125 lanforod

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Posted 27 November 2017 - 02:07 PM

Little of value is being lost here. If there is appetite for this type of news, something will replace it.



#126 johnk

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Posted 27 November 2017 - 04:19 PM

I can't make sense of why two corps. would exchange assets of approx equal value in order to dispose of the assets. Why did the original owners not do this?
The only thing that comes to my mind is possible tax advantages.

#127 johnk

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Posted 27 November 2017 - 04:21 PM

This seems like positioning in order to scare the federal government into allocating hundreds of millions of dollars to these organizations which will spend it on bolstering their online presence.
In my opinion, private, corporate media should not be viewed in any other way than any other business. None of them are a utility or “too big to fail.” Are we seriously that naive to believe that without Esquimalt’s Esquimalt News the township and its residents have suffered or have been negatively affected?


Same thing with pro sports teams. Why should taxpayers foot the bill for stadiums etc? Taxpayers dont share in their profits.

#128 jonny

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Posted 27 November 2017 - 04:24 PM

I can't make sense of why two corps. would exchange assets of approx equal value in order to dispose of the assets. Why did the original owners not do this?
The only thing that comes to my mind is possible tax advantages.

 

They effectively gain a larger market share or even a monopoly in those areas. The idea being that Postmedia shuts down the Torstar paper it just acquired. Postmedia will sell more of their own papers in that area because it no longer has to compete with the Torstar newspaper it just effectively put out of business. And visa versa. 



#129 VicHockeyFan

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Posted 27 November 2017 - 04:33 PM

They effectively gain a larger market share or even a monopoly in those areas. The idea being that Postmedia shuts down the Torstar paper it just acquired. Postmedia will sell more of their own papers in that area because it no longer has to compete with the Torstar newspaper it just effectively put out of business. And visa versa. 

 

We know the business case of shutting down.  But why not just shut, why sell and shut? 

 

Same thing with pro sports teams. Why should taxpayers foot the bill for stadiums etc? Taxpayers dont share in their profits.

 

Could it be that the one that is sold in each case, is the weaker in that two-paper town?

 

So Torstar owns the Smallville News.

Postmedia owns the Smallville Sun.

 

Torstar owns the Biggerville News.

Postmedia owns Biggerville Sun.

 

In each case above, the bold one is the stronger paper (larger circulation, more ad revenue).

 

So if Postmedia just closed the Smallville Sun, only on the condition that Torstar closes the Biggerville News, maybe that's some type of illegal collusion.  But if they sell/swap, both Torstar and Postmedia get all the bad papers, so they close more or less automatically.


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#130 Jackerbie

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Posted 28 November 2017 - 08:40 AM

So if Postmedia just closed the Smallville Sun, only on the condition that Torstar closes the Biggerville News, maybe that's some type of illegal collusion.  But if they sell/swap, both Torstar and Postmedia get all the bad papers, so they close more or less automatically.

 

Competition Bureau is reviewing the transaction, probably for that exact reason.



#131 VicHockeyFan

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Posted 28 November 2017 - 08:46 AM

Well, they have already closed most of them, they stopped all production at the end of the weekend.

#132 jonny

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Posted 28 November 2017 - 09:14 AM

We know the business case of shutting down.  But why not just shut, why sell and shut? 

 

Oh, my assumption is that the acquiring newspapers were keeping some of the staff from the shuttered newspapers and this saved on some severance. Plus, there are some assets they still want to use. For example, Postmedia acquires all of the printing presses, vehicles, leases and office equipment from the local Torstar paper they just acquired and can use those assets in their continued operation of the local Postmedia paper. 


Edited by jonny, 28 November 2017 - 09:35 AM.


#133 VicHockeyFan

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Posted 28 November 2017 - 09:21 AM

Oh ya that makes sense.

#134 Bingo

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Posted 28 November 2017 - 10:08 AM

Well, they have already closed most of them, they stopped all production at the end of the weekend.

 

The TC is thin today now that the silly black Friday thing is over.


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#135 johnk

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Posted 28 November 2017 - 10:45 AM

The TC is thin today now that the silly black Friday thing is over.


TC has been on a diet for years now and seems to be approaching anorexic status.

#136 VicHockeyFan

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Posted 10 December 2017 - 08:12 AM

http://nationalpost....axes-for-others

 

 

Andrew Coyne: CBC's idea of a ‘level playing field’ — subsidies for us, taxes for others
Now that people who want to watch Cancon can pay for it, it’s not clear why they shouldn’t, still less why those who don’t should have to pay in their place

 


Edited by VicHockeyFan, 10 December 2017 - 08:12 AM.


 



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