Photo by Ian Kucerak / Postmedia ... “In Alberta, there’s certainly no speak of any land transfer or foreign ownership taxes being considered by our current administration,” he said. ... Postmedia is committed to maintaining a lively … Postmedia is TOTALLY a danger to the stability of democracy in Canada. Faceless foreign ownership is behind newspaper publisher Postmedia’s push to cut costs at Vancouver’s duopoly dailies, according to the head of the union that represents workers at the Sun and Province. Postmedia says this year's second-quarter profit compared with a year-earlier net loss of $12.8 million. Voting Shares including key executives, insider trading, ownership, revenue and average growth rates. That put Postmedia over the foreign ownership limit for newspapers set by the federal government, which the company got around by creating two classes of … It was allowed to grow into the monster it is today by Stephen Harper. As with many things in life, that’s the first step.” On November 27, 2017, Postmedia and Torstar publicly announced the completion of a transaction involving the transfer of 41 community and daily newspapers largely based in eastern and southern Ontario. End Canada's COVID-19 quarantine hotel stay: Expert panel. “@cbctom Maybe we do something about foreign ownership of a lot of our newspapers such as Postmedia.” As with many things in life, that’s the first step.” Highlights from the Quarter ... | May 18, 2021 And a degree of foreign ownership of the free press that would not be tolerated in the U.S., France, Japan or Germany. ... Postmedia is committed to maintaining a … A Vancouver realtor’s online advice on “how to avoid the foreign-buyers tax” is a sign of how difficult it is to track foreign ownership.Realtor … The Vancouver Sun flipped into Opinion Postmedia asked the union to approve a five-per-cent wage reduction for all staff, said Martin O'Hanlon, president of CWA Canada, which represents a couple of hundred Postmedia employees across Canada. Stay up to date on the latest stock price, chart, news, analysis, fundamentals, trading and investment tools. Postmedia owns the magazine Financial Post Business and the website Canada.com. This contravened Canada’s 25-percent limit on foreign ownership of print media, but a two-tiered share structure that kept foreign voting control below the limit was allowed by the federal government. Postmedia Network Canada Corp. ('Postmedia' or the 'Company') today released financial information for the three months and year ended August 31, 2020. “Some notably Canadian oil companies, such as Suncor, Canadian Oil Sands and Husky, are predominantly owned by … 10 votes, 21 comments. Changes to airline rules also opened the door to joint ventures and codified a previously announced hike in the foreign ownership limit of foreign carriers, to 49 per cent from 25 per cent. When media companies specializing in different forms of media merge to take advantage of synergies enabled by digital content. Postmedia’s CEO Paul Godfrey also announced that the company will no longer publish the Sunday edition of the Ottawa Citizen , Edmonton Journal and Calgary Herald , or print the National Post on Mondays. Postmedia, owner of the National Post and numerous daily broadsheet papers across Canada, has announced it's buying Quebecor's chain of 175 … Faceless foreign ownership is behind newspaper publisher Postmedia's push to cut costs at Vancouver's duopoly dailies, according to the head of … Postmedia is pressing its case for an easing of newspaper foreign ownership restrictions as it faces U.S. currency debt repayment burdens CEO Paul Godfrey has likened to a “noose around your neck,” sources say. It's not getting better. Canada to open foreign ownership in telecoms . 'We continue to operate in an uncertain landscape … The Harper government turned a blind eye to that flagrant end run around Canada’s foreign ownership limits, then presided over the Competition Bureau’s rubber-stamping of Postmedia’s 2014 purchase of Sun Media. It was allowed to grow into the monster it is today by Stephen Harper. The StarPhoenix is owned by PostMedia, which owns several right-leaning media outlets throughout Canada.According to a report in the left-leaning CanadaLand, PostMedia has directed its publications to be more “reliably conservative.” The newspaper is funded through advertising and subscription fees. Ownership Groups: View the latest daily newspaper ownership chart (updated April 2018) Select a company from the list below to view its daily newspaper holdings: Black Press Brunswick News Inc. […] My guess is that it will prove the media and blogging narrative implying that foreigners alone are to blame is largely off base and relative to all the other influences. Postmedia, 98 per cent owned by U.S. hedge funds despite supposed limits on foreign ownership of Canadian newspapers, pointed out the deal was “not subject to the merger notification provisions of the Competition Act and no regulatory clearance is required to close the transaction.” Funded by / Ownership. Next. 'S 20 per cent foreign-buyers tax on … This is possible under Canadian media-ownership rules that limit foreign investment, because Postmedia issues non-Canadian shares that have their voting power capped at 49 per cent, no matter how much of the actual ownership they represent. If Brad Wall has learned something about giving the appearance of consultation during his time in office, he’s proven rather less interested in giving effect… Postmedia’s media hegemony has been so damaging to Canada. Postmedia Network Inc., a wholly owned subsidiary of Postmedia Network Canada Corp. (TSX:PNC.A, PNC.B), is a news media company representing more … Friends, family of slain woman voice grief at Toronto-area man’s sentencing hearing. Postmedia Executive Vice President and Chief Financial Officer Doug Lamb, left, President and CEO Paul Godfrey, Chair of Postmedia Board of Directors Rod Phillips, and COO Wayne Parrish attend a press conference in Toronto Monday, Oct. 6, 2014 announcing Postmedia's purchase of Sun Media Corp.'s English-language operations. No foreign news bureaus were closed because other than the two it has in Jerusalem and Washington, there are none. It already published both English-language dailies in Vancouver, as its corporate predecessors had since 1980. Rating Action: Moody's affirms Postmedia's Caa3 CFR and upgrades SGL rating to SGL-3Global Credit Research - 01 Apr 2021Toronto, April 01, 2021 -- … ^First-Lien Notes _ means the 8.25% Senior Secured Notes due 2017 issued by Postmedia Network Inc. pursuant to … The provincial government will pay for an external study on the impacts of foreign investment and ownership in B.C.’s property market, The Province has learned. 0. ... Notice for the Postmedia Network. Postmedia circumvents the Canadian tax laws intended to preclude foreign ownership of Canadian media by limiting U.S.-held shares to 49.9 per cent of the votes in shareholder matters -- an end run that was approved by Stephen Harper's Conservative government. Currently, Postmedia has found a way around issues of foreign ownership with the dual-share structure of its stock, which keeps voting control of the company in Canadian hands. Postmedia is TOTALLY a danger to the stability of democracy in Canada. Limits on foreign ownership of electric vehicle producers will be eliminated this year, the Cabinet’s planning agency said. Postmedia: a sinking ship embroiled in controversy Postmedia is a national media giant with nearly 200 papers, magazines and websites. 'We are now six months into a global pandemic and its effects on our people, our clients and our communities,' said Andrew MacLeod, President and Chief Executive Officer, Postmedia. of 25 percent foreign ownership of newspapers, Canada’s largest chain is 92 percent owned by U.S. hedge funds, which acquired it out of bankruptcy in 2010 after buying up the bulk of its distressed debt at pennies on the dollar. TheMorrigan SAVE ALBERTA FROM KENNEY @TheMorrigan47. The federal Competition Bureau on Wednesday issued a “no-action” letter for Sun Media’s planned sale of its 175 English-language specialty titles and daily and weekly newspapers to Postmedia for about $316 million. The Canadian Broadcasting Corporation, or CBC, is a taxpayer-funded, government-run corporation that provides a variety of free radio and television services to Canadians across the country.No matter where you are in Canada, your TV and radio will be able to pick up a CBC broadcast. This arrangement was allowed to stand by the Harper government, despite a supposed limit of 25 percent on foreign ownership in this culturally sensitive industry. Upon learning the city’s new housing strategy proposes looking at restricting foreign ownership, Andy Yan told Postmedia: “It’s interesting … It’s the admission that you have a problem. Postmedia Network already includes the National Post, Ottawa Citizen and Calgary Herald, … The lack of connection between soaring housing prices and tepid local wages in Metro Vancouver is caused in large part by hidden foreign ownership, says a … Foreign ownership restrictions have been removed for small wireless companies with less than a 10 per cent of the market, which opens the door for Verizon and other foreign companies to enter Canada. A 2019 report from Statistics Canada, found that while most foreign ownership in Ontario happens in Toronto, small cities near the U.S. border such as Kingston, Windsor and St. Catharines actually have higher percentages of foreign-owned homes. Despite a supposed 25% limit on foreign ownership of newspapers, U.S. hedge funds were able to acquire out of the 2009 bankruptcy of Canwest Global Communications, the country’s largest chain, and the former family-owned Southam Inc., for which I Canadian newspaper chain Postmedia Network scooped up competitor Sun Media's English-language tabloids in a deal announced Monday worth Can$316 million (US$281 million). The Toronto Sun is owned by PostMedia, which owns several right-leaning media outlets throughout Canada.According to a report in the left-leaning CanadaLand, PostMedia has directed its publications to be more “reliably conservative.” The newspaper is funded through advertising and subscription fees. There are six sectors (telecommunications, cultural industries, broadcasting, transportation services, uranium production, and financial services) for which the acquisitions of Canadian businesses by non-Canadians are subject to review under the Investment Canada Act, and that have sector-specific legislation and/or foreign ownership restrictions. TORONTO Economists and researchers are applauding Stephen Harper’s election campaign promise to collect data on foreign ownership in … Postmedia Network Inc. ("Postmedia") is proud to announce the latest step in its ongoing commitment to supporting our cities and communities through the COVID-19 crisis with Reopening Canada, an editorial and business-focused program. Realtor Andrew Szalontai's website offers foreign nationals a wide variety of strategies for circumventing B.C. Postmedia Network of 175 Sun Media newspapers from Quebecor Media, it effectively allowed a merger of the country’s two largest newspaper chains. Currently, Postmedia has found a way around issues of foreign ownership with the dual-share structure of its stock, which keeps voting control of … Currently, Postmedia has found a way around issues of foreign ownership with the dual-share structure of its stock, which keeps voting control of the company in Canadian hands. Postmedia, which owns such publications as the National Post, Montreal ... of brands that collectively create a stronger Canadian media platform that is better positioned to compete against foreign-based digital offerings and offers a greater range of choices to our readers,” Godfrey said in a statement. By Mike De Souza, Postmedia News May 10, 2012 OTTAWA — More than two-thirds of all oilsands production in Canada is owned by foreign entities, sending a majority of the industry's profits out of the country, says a new analysis released Thursday by a British Columbia-based conservation group. TheMorrigan SAVE ALBERTA FROM KENNEY @TheMorrigan47. The problem of hedge fund ownership has been seen nowhere more than in Canada. We must all be firm in our stance against racism and violence. Ownership Search; Dividend History ... signaled a willingness to block foreign purchases of Canadian companies if other ... Harper said in an interview published in Saturday's Postmedia … However, according to a 2017 report from Statistics Canada, foreign condo ownership in Toronto and Vancouver totalled 7.2% and 7.9% respectively, with the report claiming foreign real estate ownership of single-family homes insignificant at 2% in most large cities. 3. Postmedia Network Inc., a wholly owned subsidiary of Postmedia Network Canada Corp., is the largest publisher by circulation of paid English-language daily newspapers in Canada, representing some of the country’s oldest and best known media brands. There are no country-wide U.S. trade sanctions against Lebanon, although Hezbollah and individuals associated with it have been targeted by the American government. OTTAWA — CWA Canada welcomes today’s announcement that La Presse will become a not-for-profit news organization. Suffice it to say that Postmedia could not have done it without a little help from its friends. This arrangement was allowed to stand by the Harper government, despite a supposed limit of 25 percent on foreign ownership in this culturally sensitive industry. Corporate Convergence: Converge as a result of a business strategy where media organizations are concentrated into one communications company. Postmedia Network Inc. will lay off about 80 employees and permanently close 15 community publications as the newspaper conglomerate navigates the financial fallout of COVID-19. This diversity of ownership began to unravel in 2014. Postmedia’s 200-plus media outlets, mostly newspapers, including some of the biggest dailies in the country, represent a far greater concentration of news media ownership than exists in any other major economy. ^Postmedia _ means Postmedia Network Canada Corp. and, if the context requires, its subsidiary, Postmedia Network Inc. ^Postmedia Rights Plan _ means the amended and restated Shareholder rights plan agreement entered into between Postmedia and Computershare Investor Services Inc., … “@youseepeeYYC @Garossino Postmedia is TOTALLY a danger to the stability of democracy in Canada. On a conference call for investors, Godfrey said the ownership change that would result from the proposed debt for stock swap will not impact Postmedia's ability to meet regulatory requirements limiting foreign ownership. The National Post is owned by Postmedia, which is owned by U.S. hedge fund lenders who hold 98 per cent of Postmedia’s shares. There are little restrictions on foreign investment, barring Israeli citizens and entities. Analysis: How effective can taxes on foreign ownership be if there are experts leading clients through the exemptions and loopholes? May 24. Postmedia's valiant efforts to keep the wolf from the door do not mean the chain can survive in its current form. Postmedia is committed to maintaining a lively but civil forum for discussion and encourage all readers to share their views on our articles. Canada's government admits that. Worth noting however, are questions surrounding the influence of foreign investors on Postmedia; in 2014, Simon Fraser University adjunct communications professor Donald Gutstein divulged the network's shareholder numbers, revealing more than 50 per cent ownership by American hedge funds. 2. And since it is a cheerleader for globalization, it overlooks how hidden foreign ownership plays an oversized role in Canada's big cities. Replying to @youseepeeYYC @Garossino. Read our profile on the Canadian government and media. Contemporary research demonstrates increasing levels of consolidation, with many media industries already highly concentrated and dominated by a very small number of firms. At the end of April, the company announced company-wide pay cuts in addition to about 80 layoffs and the closure of 15 community publications. A 2019 report from Statistics Canada, found that while most foreign ownership in Ontario happens in Toronto, small cities near the U.S. border such as Kingston, Windsor and St. Catharines actually have higher percentages of foreign-owned homes. If Postmedia were exploring the possibility of being foreign-owned, however, those tax restrictions would be front of mind in its lobbying efforts in Ottawa. Rogers Communications Initially founded as Rogers Vacuum Tube Company in 1925 by Edward Rogers to utilize his invention of the battery-less radio receiver , Rogers has grown to become one of Canada’s largest and diversified media companies. The federal government pledges to open its doors to foreign ownership in the satellite and telecommunications sector, and … Report looks into the affect of former farmland ownership rules . “One of the big problems with Postmedia is it’s controlled by U.S. hedge funds,” said Mike Bocking, president of Unifor Local 2000. 50. Canada's government admits that. Our goal is to provide radical transparency and a better grasp of the U.S. If implemented, Postmedia said the transaction will see its annual cash interest expense reduced by approximately $50 million. In 1990, when this transformation started, about 17 per cent of … The research by Forest Ethics Advocacy was… There’s big trouble in Postmedialand. The share of foreign ownership remains low and is focused in newer, larger condos in the cores of major Canadian cities, CMHC economist says. Postmedia is gearing up to cut the amount of weekly local coverage included in the print editions of the Ottawa Citizen and the Ottawa Sun, members of the Ottawa Newspaper Guild have confirmed.. Debbie Cole, president of the Guild, and Lois Kirkup, vice-president of both the Guild and Canada’s oldest media union, CWA-SCA, said their understanding coming out of a meeting Postmedia … Postmedia Network
said on Monday it will buy Quebecor Inc's Sun Media newspaper assets for C$316 million ($282 million) in a … Realtor Andrew Szalontai's website offers foreign nationals a wide variety of strategies for circumventing B.C. No foreign news bureaus were closed because other than the two it has in Jerusalem and Washington, there are none. That gave Postmedia ownership of both dailies in Calgary, Edmonton, and Ottawa. “@youseepeeYYC @Garossino Postmedia is TOTALLY a danger to the stability of democracy in Canada. All of this was aided by toothless federal anti-competition and foreign ownership laws. Section 19(1) is a 60-year-old policy designed to ensure Canadian newspapers are owned by Canadians. Canada’s largest newspaper chain is owned mostly by U.S. hedge funds which did a legal end run around our foreign ownership limits; They were then allowed to take over our second-largest chain; Postmedia Network thus owns 15 of Canada’s 21 largest dailies, including eight of the nine largest in our three westernmost provinces; Postmedia is pressing its case for an easing of newspaper foreign ownership restrictions as it faces U.S. currency debt repayment burdens CEO Paul Godfrey has likened to a … “The more foreign ownership we see in the oilsands, the more at risk we are at from trade agreements,” says the council’s Andrea Harden-Donahue. And a degree of foreign ownership of the free press that would not be tolerated in the U.S., France, Japan or Germany. Chatham Asset Management, a New Jersey-based hedge fund holds a large equity … 50. It found 71 per cent of the ownership of oilsands production was foreign, while the foreign-based companies controlled 24.2 per cent of the sector’s production. Okay fiiine, we’ll talk about “foreign” influence if you insist, Ms. Anton. The lack of connection between soaring housing prices and tepid local wages in Metro Vancouver is caused in large part by hidden foreign ownership, says a … The Postmedia’s media hegemony has been so damaging to Canada. TORONTO – The foreign-owned Beer Store consortium says it is opening up ownership to all Ontario-based brewers. One reason for Canada's laggardly climate policies is the economic, cultural and political power of the fossil fuel industries. May 24. This arrangement was allowed to stand by the Harper government, despite a supposed limit of 25 percent on foreign ownership in this culturally sensitive industry. Outright ownership could allow foreign banks to expand their operations in the multitrillion-dollar Chinese financial sector, and better integrate them with their global businesses. Postmedia Network said on Monday it will buy Quebecor Inc's Sun Media newspaper assets for C$316 million ($282 million) in a … But its search for a buyer may face additional hurdles due to Postmedia's share structure, which was designed to fit within Canada's rules around foreign ownership of … Postmedia’s CEO Paul Godfrey also announced that the company will no longer publish the Sunday edition of the Ottawa Citizen , Edmonton Journal and Calgary Herald , or print the National Post on Mondays. ... Postmedia is committed to maintaining a lively but civil forum for discussion and encourage all readers to share their views on our articles. Spoiler: Today, 3rd of May, is World Press Freedom Day 2021. The so-called “Emerson Report,” tabled by Garneau in Parliament last spring, contained dozens of recommendations, including moving foreign ownership limits from 25 per cent to 49 per cent. It’s somehow never enough for News Media Canada, the industry association whose largest member is Postmedia Network, which is somehow 92-percent owned by U.S. hedge funds despite a supposed 25-percent limit on foreign ownership of our press. Critics, however, say the concentration of media ownership in Canada's third-largest city has stifled diverse views. “For generations, Canadian law has forbidden foreign ownership or control of Canadian cultural assets. “We have been advocating a community-ownership model as an alternative to the corporate control that has devastated… A Vancouver realtor’s online advice on “how to avoid the foreign-buyers tax” is a sign of how difficult it is to track foreign ownership.Realtor … The Vancouver Sun flipped into Opinion NOTICE OF MEETINGS OF HOLDERS OF of POSTMEDIA NETWORK INC. AND NOTICE OF SPECIAL MEETING OF SHAREHOLDERS of POSTMEDIA NETWORK CANADA CORP. MANAGEMENT INFORMATION CIRCULAR With Respect To a Proposed PLAN OF ARRANGEMENT and RECAPITALIZATION August 5, 2016 filed on May 5th, 2020 Changes to airline rules also opened the door to joint ventures and codified a previously announced hike in the foreign ownership limit of foreign carriers, to 49 per cent from 25 per cent. Replying to @youseepeeYYC @Garossino. A Vancouver realtor’s online advice on “how to avoid the foreign-buyers tax” is a sign of how difficult it is to track foreign ownership. Its dailies reach 6.3 million Canadian readers every week, ... Canadian tax law discourages foreign ownership of Canadian media companies. Columnists; Social media, social order . Postmedia dailies are still profitable in that operating revenues exceed expenses—but at the cost of cutbacks that arguably reduce its asset value. Foreign ownership rules have limited the Canadian print sector for decades, but Postmedia's restructuring in 2009 through Goldentree's debt for … “Foreign ownership can also contribute to overvaluation in housing markets. — Two young women whose lives were brutally cut short by a Toronto-area killer were robbed of their future, their families deprived of the chance to see them grow into adulthood, grieving relatives told an Oshawa, Ont., court Thursday. Recently, the sad state of Canada’s largest media chain was the subject of some old-style gumshoe reporting by the National Observer’s Bruce Livesey. A Vancouver realtor's online advice on “how to avoid the foreign-buyers tax” is a sign of how difficult it is to track foreign ownership. The study — based on just 172 sales out of more than 42,000 transactions that year — was facilitated by David Eby, then an opposition politician. As humans we must all … ^Financial Statements _ means Postmedia Network anada orp [s consolidated financial statements for the years ended August 31, 2015, 2014 and 2013. We have time-stamped this index – May 11, 2021. Postmedia is a national media giant with nearly 200 papers, magazines and websites. Tencent Holdings Ltd is negotiating agreements with a U.S. national security panel that would allow it to keep its ownership stakes in U.S. video game developers Riot Games and Epic Games, according to people familiar with the matter. Postmedia circumvents the Canadian tax laws intended to preclude foreign ownership of Canadian media, by making the U.S.-held shares non-voting—an end-run approved by the Harper government. To give the index structure, we have chosen to use third-party tracking of monthly views, unless reported at the source. The sale, if it is approved by the Competition Bureau, will consolidate most daily newspapers across Canada under one banner. But after permitting the sale to non-Canadians of practically the entire Canadian-owned steel and mining industries, then PM Stephen Harper’s government signed off on Postmedia… If Postmedia were exploring the possibility of being foreign-owned, however, those tax restrictions would be front of mind in its lobbying efforts in Ottawa. The issue of farmland ownership in Saskatchewan stirred up controversy only a few years ago as foreign … Yesterday Postmedia made the Canadian media landscape a bit more consolidated, announcing a deal to purchase Sun Media’s 175 English print and digital properties for $306 million. It says the change was primarily due to gains on derivative financial instruments and foreign exchange, higher operating income and lower expenses, partially offset by a $7 million impairment expense. 0. Postmedia said the deal will position it to better compete with foreign-based digital offerings. In other words, we have a decimated news media in Canada. A high-level overview of Postmedia Network Canada Corp. (PCDAF) stock.