PostMedia is Open For Business
source: http://www.marketingmag.ca/english/news/media/article.jsp?content=20100713_170243_1476
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Marketing - Now it's official. The transaction that began with last month's approved acquisition of Canwest Global Communications' newspaper group by an investor group headed by Paul Godfrey has been completed.
The new ownership, now called Postmedia Network, paid $1.1 billion for 11 major dailies and 26 community papers, including some of Canada's largest daily newspapers like the National Post, Vancouver Sun, Calgary Herald and Ottawa Citizen.
Since word of the purchase was reported, Godfrey has said ownership will take a digital-first approach to its business. "We are at the beginning of a new company with a new name and an ongoing commitment to transforming our business and our culture," he wrote in a recent memo to staffers.
Speaking to Marketing this week, Godfrey said that the company is in the midst of evaluating its current digital offerings and overall operations across the organization and will work to ensure that everyone embraces the new approach and commitment to multiple platforms. He also had a warning for those that don't measure up.
"I've watched the National Post team, and they've been leaders in what newspapers are doing in the digital world," he said. "Some of the other papers are doing a great job, too, but others, I think are lagging. The leadership needed there will have to come from the publisher. Those publishers will have to embrace the digital-first philosophy and if they can't I'll have to find somebody else who can. The whole Postmedia team will have to be on the same page in that respect."
In a release, the company has stated its intention to apply for the listng of its shares on the Toronto Stock Exchange.
Read More:
http://www.marketingmag.ca/english/news/media/article.jsp?content=20100713_17024...
Further Reading:http://www.canada.com/business/Postmedia+Network+opens+newspaper+chain/3271976/story.html
The new ownership, now called Postmedia Network, paid $1.1 billion for 11 major dailies and 26 community papers, including some of Canada's largest daily newspapers like the National Post, Vancouver Sun, Calgary Herald and Ottawa Citizen.
Since word of the purchase was reported, Godfrey has said ownership will take a digital-first approach to its business. "We are at the beginning of a new company with a new name and an ongoing commitment to transforming our business and our culture," he wrote in a recent memo to staffers.
Speaking to Marketing this week, Godfrey said that the company is in the midst of evaluating its current digital offerings and overall operations across the organization and will work to ensure that everyone embraces the new approach and commitment to multiple platforms. He also had a warning for those that don't measure up.
"I've watched the National Post team, and they've been leaders in what newspapers are doing in the digital world," he said. "Some of the other papers are doing a great job, too, but others, I think are lagging. The leadership needed there will have to come from the publisher. Those publishers will have to embrace the digital-first philosophy and if they can't I'll have to find somebody else who can. The whole Postmedia team will have to be on the same page in that respect."
In a release, the company has stated its intention to apply for the listng of its shares on the Toronto Stock Exchange.
Read More:
http://www.marketingmag.ca/english/news/media/article.jsp?content=20100713_17024...
Further Reading:http://www.canada.com/business/Postmedia+Network+opens+newspaper+chain/3271976/story.html
