Postmedia Network: Wayne Parrish named Chief Transformation and Revenue Officer

TORONTO--(BUSINESS WIRE)--Postmedia Network today announced that Wayne Parrish will expand his current role of Chief Transformation Officer adding “revenue” to the mix.

“Entering our second year of operation, the natural evolution of our transformation program includes accelerating revenue initiatives and expanding the discipline and focus that other projects have benefitted from already.”

“Since joining the company almost one year ago, Wayne has provided critical direction and oversight to more than two dozen transformation projects,” said Paul Godfrey, President and CEO. “Entering our second year of operation, the natural evolution of our transformation program includes accelerating revenue initiatives and expanding the discipline and focus that other projects have benefitted from already.”

In the newly created role of Chief Transformation and Revenue Officer, Mr. Parrish will be responsible for all revenue generating areas of business operations – from product development and marketing to advertising sales (print and digital) and new ventures. Day to day responsibility for local advertising will continue to report to the publishers of each division. National advertising and digital operations will report to the office of the CTRO. Mr. Parrish will have ongoing contact with the divisional heads to ensure that the overall Postmedia revenue strategy and growth opportunities are aligned and leveraged to the fullest extent possible, across all operations.

About Postmedia Network Inc.

Postmedia Network Inc., a wholly-owned subsidiary of Postmedia Network Canada Corp. (TSX:PNC.A, PNC.B), is the largest publisher by circulation of paid English-language daily newspapers in Canada, representing some of the country’s oldest and best known media brands. Reaching millions of Canadians every week, Postmedia Network engages readers and offers advertisers and marketers integrated solutions to effectively reach target audiences through a variety of print, online, digital, and mobile platforms.

Forward-Looking Statements

This press release may include information that is “forward-looking information” under applicable Canadian securities laws and “forward-looking statements” within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. By their nature, forward-looking information and statements involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future. These risks and uncertainties include competition from other newspapers and alternative forms of media; the effect of economic conditions on advertising revenue; the ability of the Company to build out its digital media and online businesses; the continuation of current print and online newspaper readership and circulation levels; the realization of anticipated cost savings; possible damage to the reputation of the Company’s brands or trademarks; possible labor disruptions; possible environmental liabilities, litigation and pension plan obligations; fluctuations in foreign exchange rates and the prices of newsprint and other commodities; and challenges related to operating as a stand-alone entity. For a complete list of our risk factors please refer to the section entitled “Risk Factors” contained in our management’s discussion and analysis for the period ended August 31, 2010. Although the Company bases such information and statements on assumptions believed to be reasonable when made, they are not guarantees of future performance and actual results of operations, financial condition and liquidity, and developments in the industry in which the Company operates may differ materially from any such information and statements in this press release. Given these risks and uncertainties, undue reliance should not be placed on any forward-looking information or forward-looking statements, which speak only as of the date of such information or statements. Other than as required by law, the Company does not undertake, and specifically declines, any obligation to update such information or statements or to publicly announce the results of any revisions to any such information or statements.