Black Press Media announced late last month that it had completed the sale of the newspaper group to a new owner.
The new ownership group includes Canadian institutional investors Canso Investment Counsel and Deans Knight Capital Management, as well as local media company Carpenter Media Group.
The sale comes as the company wraps up its creditor protection process in the B.C. Supreme Court and its related U.S. proceedings.
Black Press Media said it intends to continue serving as the go-to source for local news – online and in print – by operating its 80-plus local news publications and various customer solutions services within Canada. The media company employs roughly 1,200 employees between its Canadian and U.S. divisions.
“Black Press is dedicated to serving communities with the best hyperlocal journalism, available 24/7 and produced by passionate journalists living in those communities,” said Glenn Rogers, chief executive officer of Black Press. “With our strong financial position and the support of our new Canadian-controlled ownership group, Black Press readers and advertisers can count on us to continue delivering the quality journalism and advertising solutions that we are known for.”