Vancouver-based Glacier Media Inc has acquired the Victoria Times Colonist, Nanaimo Daily News, Alberni Valley Times and over 20 British Columbia-based community newspapers and related digital assets from Postmedia Network. Postmedia accepted Glacier’s unsolicited offer of $86.5 million and will use the money to reduce the company’s existing debt according to president and CEO Paul Godfrey. The deal is subject to closing conditions and regulatory approvals and is expected to close on or around November 30, 2011.
Prior to the deal Glacier owned newspapers in 65 markets in Western Canada, including 17 in B.C. Glacier’s newly acquired newspaper properties are:
- Victoria Times Colonist
- Vancouver Island Newspaper Group
- Nanaimo Daily News
- Alberni Valley Times
- Harbour City Star
- Cowichan Valley Citizen
- Oceanside Star
- Pennyworth
- Westerly News
- Campbell River Courier Islander/Campbell River Courier North Islander
- Lower Mainland Publishing Group
- North Shore News
- Vancouver Courier
- Burnaby Now
- New Westminster Record/Royal City Record
- Richmond News
- Delta Optimist
- Surrey Now
- Coquitlam Now
- Maple Ridge Times
- Langley Advance
- Abbotsford Mission Times
- Chilliwack Times
