Postmedia recently announced that the Nova Scotia Supreme Court issued an order approving Postmedia’s previously announced potential acquisition of certain businesses and assets of Saltwire Network Inc. and The Halifax Herald Limited.
Postmedia also confirmed that it had reached an agreement with certain unions representing employees of Saltwire regarding certain employment-related matters.
“We are pleased to have received court approval of the potential acquisition and that key stakeholders could collaborate to move towards the next stage of this process. We look forward to continuing the proud history and important role of these titles across Atlantic Canada if the transaction is completed,” said Andrew MacLeod, President and Chief Executive Officer of Postmedia.
“Ensuring a future for Canadian journalism by building new, sustainable models is at the core of what we do. What worked in the last century no longer does today. While change is difficult, we at Postmedia believe with deep conviction that there is a positive, sustainable and vibrant future for news media in the Atlantic provinces and across Canada.”
The potential acquisition remains subject to various conditions, including the completion of definitive transaction documentation, and has an outside close date of August 26.
