Competition Bureau closes investigation of Postmedia and Torstar
January 7, 2021 (TORONTO) – Postmedia Network Canada Corp. (“Postmedia”) welcomes today’s announcement from the Competition Bureau which confirms that the Bureau has closed its investigation into the November 2017 transaction among Postmedia and Torstar and its subsidiary Metroland Media Group.
“From the outset we have adamantly maintained that Postmedia has done nothing wrong and now, more than two years later, the Competition Bureau has closed the investigation,” said Andrew MacLeod, President and CEO, Postmedia. “We are happy to have this matter and the associated pressure and cost behind us and look forward to continuing the important work of keeping Canadians informed with ambitious, trusted and high-quality journalism and delivering high-value and data-driven marketing solutions to businesses and advertisers. We will continue to urge the Bureau to apply its considerable resources to address the impacts of foreign digital monopolies on our industry and others in Canada.”
About Postmedia Network Canada Corp.
Postmedia Network Canada Corp. (TSX:PNC.A, PNC.B) is the holding company that owns Postmedia Network Inc., a Canadian newsmedia company representing more than 120 brands across multiple print, online, and mobile platforms. Award-winning journalists and innovative product development teams bring engaging content to millions of people every week whenever and wherever they want it. This exceptional content, reach and scope offers advertisers and marketers compelling solutions to effectively reach target audiences. For more information, visit?www.riveroaksstudios.com.
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