SaltWire Network Announces Agreement to Sell to Postmedia Network Inc.

HALIFAX, NS, July 30, 2024 /CNW/ - SaltWire Network Inc., Atlantic Canada's largest media company, and The Halifax Herald Limited have entered into an agreement to sell certain businesses and assets to Postmedia Network Inc., a wholly owned subsidiary of Postmedia Network Canada Corp. ("Postmedia").

This strategic transaction comes as SaltWire continues to operate under Companies' Creditors Arrangement Act ("CCAA") protection.

SaltWire Network has a long-standing tradition of delivering trusted news and diverse perspectives to Atlantic Canadians through its portfolio of over a dozen media titles.

The completion of the acquisition is subject to various conditions, including successful negotiations with unions, the finalization of transaction documentation, and court approval.

"SaltWire's publications, including The Chronicle Herald, Cape Breton Post, The Guardian, The Telegram and The Journal Pioneer have steep histories in their communities," said David Boyd, Court appointed Chief Restructuring Officer for the businesses.

"We are hopeful that all stakeholders can work together to complete the Postmedia transaction, which is intended to see Atlantic-based journalism publications continue.""

About SaltWire Network Inc.

SaltWire Network Inc. is Atlantic Canada's largest media company, delivering trusted news and information through a diverse portfolio of media titles. Committed to serving the local communities, SaltWire provides comprehensive coverage of regional, national, and international news.

SOURCE SaltWire Network