Postmedia Network has entered into an agreement with Quebecor Media to purchase Sun Media’s stable of 175 English language newspapers, specialty publications and digital properties including the Sun chain of dailies — The Toronto Sun, The Ottawa Sun, The Winnipeg Sun, The Calgary Sun and The Edmonton Sun — as well as The London Free Press and the free 24 Hours dailies in Toronto and Vancouver.
“This investment by Postmedia is a strong endorsement of the future of the Canadian newspaper industry and made-in-Canada journalism,” said Rod Phillips, Chair of the Board.
“This acquisition brings together an impressive stable of brands that collectively create a stronger Canadian media platform that is better positioned to compete against foreign-based digital offerings and offers a greater range of choices to our readers,” said Postmedia president and CEO Paul Godfrey. “We intend to continue to operate the Sun Media major market dailies and their digital properties side by side with our existing properties in markets with multiple brands as we have in Vancouver with the Province and the Vancouver Sun for more than 30 years. Our advertisers will have the opportunity to reach audiences across the country with a made-in-Canada option for their marketing programs.”
The transaction is subject to approval by the Competition Bureau. While it is under review, Sun Media Corporation will continue managing the assets and publications in question.