SaltWire Network

Last updated

SaltWire Network Inc.
Company typePublic
Industry Mass media
FoundedApril 13, 2017;7 years ago (2017-04-13)
DefunctAugust 26, 2024 (2024-08-26)
FateAcquired by Postmedia Network
Headquarters
Halifax, Nova Scotia
,
Canada
Area served
 Atlantic Canada
Owner Postmedia Network
Website www.saltwire.com

SaltWire Network Inc. was a Canadian newspaper publishing company. The company was formed in Halifax, Nova Scotia on April 13, 2017, via its purchase of 27 newspapers from Transcontinental. The company owned 23 daily and weekly newspapers in Atlantic Canada including The Chronicle Herald in Halifax, the Cape Breton Post in Sydney, Nova Scotia, and the The Telegram in St. John's, Newfoundland. In March 2024, Saltwire went into bankruptcy protection, and was bought by the Toronto-based Postmedia Network in August of that year. During the first week of December 2024, Saltwire was rebranded as PNI Atlantic News and headquarters moved to Toronto.

Contents

History

On April 13, 2017, Halifax's independently owned The Chronicle Herald announced its acquisition of 27 newspapers in the region from Transcontinental Media, via the newly formed parent company SaltWire Network. [1] Transcontinental began a gradual exit from mainstream publishing in order to focus on specialty media and educational publishing. [2] The exact purchase price was not disclosed, although business analysts estimated that the publications were worth approximately $30 million in total. [3]

While the purchase was going on, Saltwire's flagship newspaper, The Chronicle Herald, was in the middle of a year-long labour action. [4] The deal shocked striking staff because it meant that management had the money to buy a newspaper chain, while asking the union for concessions on benefits and wages because of money flow issues. [5] The transaction was criticized by labour leaders because Herald management was essentially crying poor in negotiations. [6] After being on the picket-lines for 18 months, with the help of a provincially appointed mediator, the strike finally came to an end in August 2017. [7] 61 editors, writers and photographers went on strike, 26 were laid-off when the agreement passed, but management conceded to not replace laid off staff with non-unionized employees during the eight-year agreement. [8]

Paywalls and downsizing

In June 2018, Saltwire Network changed the Carbonear, Newfoundland-based weekly newspaper, The Compass, from a subscriber model to a free total market product delivered as a flyer package wrap. [9] July 2018 saw Saltwire Network close The Beacon, The Advertiser, The Pilot and The Nor'wester, and merge them into a free weekly known as The Central Voice. The new paper began publication on August 1, 2018. [10]

In March 2019, all SaltWire publication websites introduced metered paywalls. [11] At the end of March 2019, the company terminated its affiliation with the Canadian Press newswire service, opting instead to become a client of Postmedia and Reuters. [11] In March 2019, SaltWire announced it was putting 10 of its newspaper buildings up for sale, including the headquarters for the Cape Breton Post, and the St. John’s Telegram’s. [12]

In April 2019, SaltWire announced it was turning Corner Brook-based The Western Star into a weekly delivered free to consumers as a flyer wrap. This resulted in the layoff of around 30 employees. Independent delivery contractors were also affected. [13] At the same time, it was announced that the two Labrador weeklies would merge into one called The Labrador Voice, which closed a year later. [14]

In April 2019, SaltWire filed a lawsuit in the Supreme Court of Nova Scotia against Transcontinental, accusing it of overstating and misrepresenting details surrounding the revenue of the papers it had acquired. [15] The company threatened a counter-suit, stating that the sale was "conducted based on fair, accurate and timely information", and accusing SaltWire of failing to "fulfil its payment obligations". [16] [17]

Bankruptcy and sale

In March 2024, both lender Fiera Private Debt and SaltWire applied to place the media company under creditor protection. [18] Fiera was owed over $32 million. [19] On July 26, 2024, Postmedia Network entered an agreement to purchase SaltWire. [20] When the sale was announced, SaltWire employed about 800 independent contractors and 390 staff (including Halifax Herald Ltd.). [21] At an insolvency court hearing in Halifax, on August 8, 2024, a Nova Scotia Supreme Court justice approved the sale. [22] Postmedia completed the transaction on August 26, 2024. [23]

Postmedia did not buy all of SaltWire's assists. The biggest asset left unsold was the Newfoundland printing plant that was used by The Telegram and other community papers. [24] That meant the Saturday, August 24, 2024 edition of The Telegram was the last daily printed issue, [25] as it would move to a weekly Friday print edition only. [26] The Cape Breton Post building on George Street in Sydney was sold in October 2024, after the building became surplus with the paper being printed at the same press as the Halifax Herald. [27] About a month after Postmedia's takeover, about 30 percent of SaltWire's staff were laid off, including management, editorial staff, and writers, including cartoonist Michael de Adder. [28] During the first week of December 2024, Postmedia rebranded SaltWire as PNI Atlantic News, with their websites changing to look like the parent company’s other newspapers. [29]

Publications

Newfoundland and Labrador

Nova Scotia

Prince Edward Island

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References

  1. ↑ Doucette, Keith; Thomson, Aly (April 14, 2017). "Transcontinental sells off its Atlantic papers". Toronto Star . Toronto: Torstar. The Canadian Press. p. B2. Retrieved December 21, 2024– via Newspapers.com.
  2. ↑ CBC Staff (April 18, 2017). "Transcontinental selling 93 newspapers in Ontario and Quebec". CBC News . Toronto: Canadian Broadcasting Corporation. Archived from the original on June 29, 2024. Retrieved December 21, 2024.
  3. ↑ Risdon, James (April 13, 2017). "Big deal a shocker: Herald's purchase of Transcontinental assets surprises observers". The Chronicle Herald . Archived from the original on April 23, 2017. Retrieved December 21, 2024.
  4. ↑ Ward, Rachel (November 16, 2016). "Labour minister defends article in striking Chronicle Herald". CBC News. Halifax, Nova Scotia: Canadian Broadcasting Corporation. Archived from the original on December 8, 2024. Retrieved December 21, 2024.
  5. ↑ Quon, Anthony (April 13, 2017). "How SaltWire became the largest media group in Atlantic Canada". Global News . Halifax, Nova Scotia: Shaw Communications. Archived from the original on December 8, 2024. Retrieved December 21, 2024.
  6. ↑ Williams, Cassie (April 13, 2017). "Chronicle Herald buys all Atlantic Canadian Transcontinental papers". CBC News. Halifax, Nova Scotia: Canadian Broadcasting Corporation. Archived from the original on October 3, 2024. Retrieved December 21, 2024.
  7. ↑ Katawazi, Miriam (August 2017). "After 18 months, Halifax Chronicle Herald and striking employees reach tentative deal". The Globe and Mail . Toronto: The Woodbridge Company. ISSN   0319-0714. Archived from the original on June 16, 2024. Retrieved December 21, 2024.
  8. ↑ Gillmore, Meagan (August 11, 2017). "No clear winners as Chronicle Herald strike ends". Rabble . Toronto. Archived from the original on May 27, 2024. Retrieved December 21, 2024.
  9. ↑ MacEachern, Daniel (June 7, 2018). "Carbonear Compass ditching paid subscriptions in favour of free distribution". CBC News. St. John's, Newfoundland: Canadian Broadcaster Corporation. Archived from the original on June 7, 2018. Retrieved December 26, 2024.
  10. ↑ CBC Staff (July 9, 2019). "'No pleasure' in amalgamating 4 community newspapers, says SaltWire". CBC News. St. John's, Newfoundland: Canadian Broadcaster Corporation. Archived from the original on December 8, 2024. Retrieved December 20, 2024.
  11. 1 2 Neatby, Stu (February 24, 2019). "SaltWire launching metered paywall Monday". Cape Breton Post . Sydney, Nova Scotia: SaltWire Network. Archived from the original on February 25, 2019. Retrieved December 20, 2024.
  12. ↑ Stewart, Dave (March 1, 2019). "SaltWire puts number of its newspaper buildings up for sale". The Telegram . St. John’s, Newfoundland: SaltWire Network. Archived from the original on March 27, 2019. Retrieved December 20, 2024.
  13. ↑ Wiffen, Glen (April 11, 2019). "The Western Star goes weekly". The Western Star. Corner Brook, Newfoundland: SaltWire Network. Archived from the original on April 12, 2019. Retrieved December 20, 2024.
  14. ↑ Whitten, Elizabeth (December 23, 2022). "The Case for Local News". The Independent . St. John’s, Newfoundland. Archived from the original on July 27, 2024. Retrieved December 20, 2024.
  15. ↑ CBC Staff (April 10, 2019). "SaltWire sues former newspaper chain owner over revenue 'misrepresentation'". CBC News. St. John’s, Newfoundland: Canadian Broadcasting Corporation. Archived from the original on March 28, 2023. Retrieved December 20, 2024.
  16. ↑ Robertson, Susan Krashinsky (April 12, 2019). "Transcontinental defends sale of East Coast newspapers to SaltWire in wake of lawsuit" . The Globe and Mail. Toronto: The Woodbridge Company. pp. B1, B6. ISSN   0319-0714. ProQuest   2748615564 . Retrieved December 20, 2024– via ProQuest.
  17. ↑ CP Staff (April 11, 2019). "Transcontinental defends its sale of Atlantic Canada media assets". CBC News. Halifax, Nova Scotia: Canadian Broadcasting Corporation. The Canadian Press. Archived from the original on August 17, 2022. Retrieved December 20, 2024.
  18. ↑ Thomas, Jesse (March 12, 2024). "Chronicle Herald, SaltWire business issues traced back to 2017". CTV News Atlantic. Halifax, Nova Scotia: Bell Media. Archived from the original on March 13, 2024. Retrieved December 21, 2024.
  19. ↑ Hoffman, Josh (March 11, 2024). "SaltWire Network files for creditor protection". CBC News. Halifax, Nova Scotia: Canadian Broadcasting Corporation. Archived from the original on October 3, 2024. Retrieved December 20, 2024.
  20. ↑ Yarr, Kevin; Walton, Victoria (July 26, 2024). "Postmedia enters agreement to buy SaltWire chain of newspapers". CBC News. Charlottetown, Prince Edward Island: Canadian Broadcasting Corporation. Archived from the original on December 12, 2024. Retrieved July 26, 2024.
  21. ↑ CP Staff (July 26, 2024). "Postmedia plans to buy Atlantic Canada's insolvent SaltWire newspaper chain". Toronto Sun . Toronto: Postmedia Network. The Canadian Press. Archived from the original on December 21, 2024. Retrieved December 21, 2024.
  22. ↑ Gowling, Jordan (August 9, 2024). "Postmedia gets green light to buy Atlantic Canada newspaper chain". National Post. Toronto: Postmedia Network. p. FP7. Retrieved December 21, 2024– via Newspapers.com.
  23. ↑ CP Staff (August 26, 2024). "Postmedia completes $1-million purchase of Atlantic Canada's largest newspaper chain". The Canadian Press . Toronto. Archived from the original on December 20, 2024. Retrieved December 20, 2024.
  24. ↑ Rhodes, Blair (August 23, 2024). "Postmedia begins takeover of parts of SaltWire Network". CBC News. Halifax, Nova Scotia: Canadian Broadcast Corporation. Archived from the original on September 27, 2024. Retrieved December 21, 2024.
  25. ↑ Mercer, Juanita (August 24, 2024). "'This isn't the end for us': Telegram workers reflect on last day as a daily paper". The Telegram . St. John's, Newfoundland: SaltWire Network. pp. A1, A2. Archived from the original on December 21, 2024. Retrieved December 21, 2024.
  26. ↑ Smellie, Sarah (August 27, 2024). "Postmedia completes $1M SaltWire purchase". Toronto Star. The Canadian Press. p. B2. Retrieved December 21, 2024– via Newspapers.com.
  27. ↑ Rhodes, Blair (October 17, 2024). "Deal reached for sale of former Cape Breton Post building". CBC News. Halifax, Nova Scotia: Canadian Broadcast Corporation. Archived from the original on December 21, 2024. Retrieved December 21, 2024.
  28. ↑ Edge, Marc (October 17, 2024). "Postmedia's cuts to newspapers in Atlantic Canada begin to hurt". Canadian Dimension . Winnipeg, Manitoba: Dimension Publications Inc. ISSN   0008-3402. Archived from the original on December 21, 2024. Retrieved December 21, 2024.
  29. ↑ PNI Staff (December 5, 2024). "Note to readers". Cape Breton Post. Toronto: PNI Atlantic News. Archived from the original on December 20, 2024. Retrieved December 20, 2024.
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