CP under new ownership

Canadian Press, arguably the most respected news organization in Canada, has new owners, essentially the Globe and Mail, Toronto Star and La Presse, which now represents the new board for the venerable news co-operative. Nearly crippled when both the Sun chain and PostMedia withdrew from it and hobbled by a big pension debt, the restructuring essentially buys CP the time it needs to build a better business model. Postmedia has its own services as does the Sun chain (QMI: Quebecor Media) essentially recycling copy from within its chain. The old Southam Press also had a similar service, but was responsible enough to stay part of CP. If either the Sun or Postmedia claim to support and promote journalism, they could demonstrate it by supporting CP, and quality journalism.

Globe and Mail, Nov. 27 2010


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