Postmedia & Torstar announce newspaper swap

Canada’s two largest print and digital media firms announced today they have signed a deal to buy and sell 41 newspapers, mainly in Ontario, the Toronto Star reports.

Torstar Corporation announced it has purchased eight weekly community publications, seven daily community newspapers and two free daily newspapers from Postmedia.

Postmedia Network Canada Corp. announced a deal with Metroland Media Group and Free Daily News Group Inc., both subsidiaries of Torstar Corp., to buy 22 of Torstar’s community newspapers and two free commuter daily newspapers.

The two companies will close most of the affected papers, in order to focus more efficiently on key areas.