TORONTO--(BUSINESS WIRE)--Postmedia Network Canada Corp. (“Postmedia”) today confirmed that discussions with Nordstar Capital LP regarding a potential transaction have ceased.
On June 27, 2023 Postmedia announced it had entered into non-binding discussions to consider a combination of Postmedia, together with the Metroland newspapers and certain operational assets of the Toronto Star, through a potential merger transaction and that there could be no assurance that the parties would enter into definitive agreements. The parties were unable to come to agreement on the terms of the merger.
“The need for creative solutions and foundational transformation in our industry remains. Our continued focus is on protecting and ensuring Canadians’ access to reliable information,” said Andrew MacLeod, President and Chief Executive Officer, Postmedia. “By leveling the playing field with the tech giants and creating a healthy ecosystem, we can ensure that the media industry and journalism remain vibrant, diverse, and resilient in Canada.”
About Postmedia Network Canada Corp.
Postmedia Network Canada Corp. (TSX:PNC.A, PNC.B) is the holding company that owns Postmedia Network Inc., a Canadian news media company representing more than 130 brands across multiple print, online, and mobile platforms. Award-winning journalists and innovative product development teams bring engaging content to millions of people every week whenever and wherever they want it. This exceptional content, reach and scope offers advertisers and marketers compelling solutions to effectively reach target audiences. Our expertise in home delivery and expanding distribution network powers Postmedia Parcel Services. For more information, visit: www.postmedia.com, www.postmediasolutions.com, and www.postmediaparcelservices.com.