CEP challenges Postmedia investors

The Communications, Energy and Paperworkers Union has formally challenged Postmedia’s 92 per cent foreign ownership, citing 500 job losses and the potential of closures (though the closure of the National Post would be welcomed in each newsroom of the Postmedia dailies, which support the 13 year money pit.) CEP sent a letter to Heritage Minister James Moore, using the net benefit argument that killed the Potash takeover and threatens the TSX “merger”.  What effect this will have on the feds is dubious; they like the National Post’s neoconservative editorial line, and don’t have a consistent practice when it comes to foreign ownership. Still, nice to see someone standing up for Canadian ownership of a chain that was built and properly managed till the Aspers bought it and ran it into bankruptcy.

Digital Journal/CNW, Feb. 25 2011

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