Nova Scotia judge to decide whether to approve Postmedia bid for newspaper chain

By The Canadian Press on August 8, 2024.

HALIFAX – Postmedia’s $1-million bid to acquire Atlantic Canada’s largest newspaper chain is expected to be the subject of a key court hearing today.

A Nova Scotia Supreme Court judge will be asked to approve the Toronto-based company’s bid to acquire SaltWire Network Inc. and The Halifax Herald Ltd.

The two insolvent companies publish newspapers and online content in Nova Scotia, P.E.I. and Newfoundland and Labrador.

The hearing in Halifax follows intense negotiations between Postmedia and a union representing some workers at the media companies.

Postmedia says the deal will fall through unless the union agrees to certain conditions.

Among other things, the company wants to wind up pension plans, alter some union contracts and exclude some workers from the union by eliminating their successor rights.

This report by The Canadian Press was first published Aug. 8, 2024.

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