Competition Bureau approves Postmedia-Sun Media deal

The Competition Bureau of Canada has approved Postmedia’s acquisition of 175 English-language newspapers from Quebecor. Postmedia received a no-action letter from the Competition Bureau regarding the purchase of Sun Media’s newspapers, specialty publications and digital properties. The transaction — which includes the Toronto Sun, Ottawa Sun, Winnipeg Sun, Calgary Sun, Edmonton Sun and the free 24 Hours commuter dailies in Toronto and Vancouver — was first announced last fall.

“We look forward to soon welcoming the Sun Media brands and employees to Postmedia,” said Postmedia president and CEO Paul Godfrey. “We are confident that our audiences and advertisers will continue to benefit from the strength of their favourite brands and that Postmedia will be poised to better compete against foreign-based digital giants that have been disrupting the Canadian media landscape at the peril of distinctive Canadian voices.”

Source: Postmedia