Monday, July 5, 2010

Canwest Newspapers Fold Into Postmedia Network

According to reports, the company headed by Canada's National Post chief executive Paul Godfrey that is buying Canwest newspapers, including The National Post, will now be called Postmedia Network Inc. Other papers in the chain include the Vancouver Sun, Calgary Herald and Ottawa Citizen.

"Postmedia Network reflects both where we have been and where we are going," Godfrey said.

"From the earliest days of information delivery via post, to the current online world of posting news and information as it happens and looking ahead to the continuous evolution of a post-media universe, our new name reflects both the strong legacy and the exciting future of media as we prepare to emerge as a new Canadian business."

June 2010, an Ontario Superior Court judge allowed Canwest Global Communications Corp. to sell its newspaper division to a group of creditors led by Godfrey, for $1.1 billion, including $950 million in cash.

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