Quebec government saves Groupe Capitales Médias

The Quebec government has provided newspaper chain Groupe Capitales Médias with $5-million in temporary funding, reports the Montreal Gazette

The daily newspapers operated by the chain are Le Soleil in Quebec City, Le Droit in Ottawa-Gatineau, Le Nouvelliste in Trois-Rivières, La Tribune in Sherbrooke, La Voix de l’Est in Granby and Le Quotidien in Saguenay, which includes the weekly Le Progrès.

The government’s temporary funding, in the form of a loan from Investissement Québec, will save about 350 jobs.

The temporary funding will be used to keep the newspapers running until the end of the year, with the hope that buyers will purchase some or all of the dailies before then.