The dread of convergence hangs over the “new” CanWest whose newspapers have been bought out by a consortium led by National Post publisher Paul Godfrey. Here’s some of the language that’s making me nervous:
“An integrated, multi-platform news and information company
Our potent brands are composed of a pan-Canadian mix of major metro newspapers, the National Post, a wealth of superb digital properties and community newspapers.
This Canadian solution has limitless potential and will prove to be most rewarding for all of our stakeholders.”
Eh? Why don’t we go the whole nine yards on cliched business/convergence bafflegab and talk about “leveraging content by launching from multiple media platforms.”
Godfrey et al plan to take this public in a few months. Who would invest in a company with a history of taking its stock from $22 a share to 22 cents a share, and bankruptcy, particularly when it espouses the same business “strategy” that blew it up in the first place?