Postmedia offers $1M to buy insolvent SaltWire Network, including The Chronicle Herald.
Postmedia Network Inc., a Toronto-based media company, has submitted a $1M offer to buy Atlantic Canada's largest newspaper chain, SaltWire Network Inc., during ongoing insolvency proceedings. SaltWire owns The Chronicle Herald, an almost 200-year-old daily newspaper, and other properties in Nova Scotia, Prince Edward Island, and Newfoundland. The offer is recommended by KSV Restructuring Inc., a court-appointed monitor overseeing SaltWire and Halifax Herald Ltd.'s insolvency proceedings. If approved, Postmedia will be the sole limited partner and will also make future payments for accrued liabilities.
August 03, 2024
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