Postmedia

Postmedia Network Canada Corporation

Type	Public
Traded as	: PNC.A, PNC.B
Industry	Newspaper publishing
Predecessor	Canwest
Founded	2010
Headquarters	Toronto, Ontario, Canada
Key people	Paul Godfrey - President
Products	Newspapers
Revenue	CAD$750.283 million (2015)
Number of employees	4,733
Subsidiaries	Postmedia News
Website	Postmedia Network

Postmedia Network Canada Corporation (also known as Postmedia Network or Postmedia) is a Canadian media company headquartered in Toronto, Ontario, consisting of the publishing properties of the former Canwest, with primary operations in newspaper publishing, news gathering and Internet operations.

The ownership group was assembled by National Post CEO Paul Godfrey in 2010 to bid for the chain of newspapers being sold by the financially troubled Canwest (the company's broadcasting assets were sold separately to Shaw Communications). Godfrey secured financial backing from a U.S. private-equity firm, the Manhattan-based hedge fund GoldenTree Asset Management—which owns 35 per cent—as well as other investors. The group completed a $1.1 billion transaction to acquire the chain from Canwest on July 13, 2010. The company has over 4,700 employees. The company's shares were listed on the in 2011.

The company's strategy has seen its publications invest greater resources in digital news gathering and distribution, including expanded websites and digital news apps for smartphones and tablets. This began with a revamp and redesign of the Ottawa Citizen, which debuted in 2014.

On July 13, 2010 the Manhattan-based hedge fund, Golden Tree Asset Management acquired the Asper family’s bankrupt CanWest media empire for $1.1 billion.

On October 6, 2014, Postmedia's CEO Godfrey announced a deal to acquire the English-language operations of Sun Media. The purchase received regulatory approval from the federal Competition Bureau on March 25, 2015, even though the company manages competitive papers in several Canadian cities; while the Sun Media chain owns numerous other papers, four of its five Sun-branded tabloids operate in markets where Postmedia already publishes a broadsheet competitor. Board chair Rod Phillips has cited the Vancouver market, in which the two main daily newspapers, the Vancouver Sun and The Province, have had common ownership for over 30 years, as evidence that the deal would not be anticompetitive. The purchase did not include Sun Media's now-defunct Sun News Network. The acquisition was approved by the Competition Bureau on March 25, 2015., and closed on April 13.