Postmedia Network Canada, the publisher of the largest chain of Canadian big-city daily newspapers, continues to struggle. The company announced Monday that it will be making several revisions to its business model.
The publisher of the Vancouver Sun, the Star Phoenix and the Leader-Post, stated Monday in a news release that it will be ending Sunday newspapers in Calgary, Edmonton and Ottawa and suspend the Monday edition of the National Post through the summer, which will be the fourth straight summer of such a move. These changes will begin next month.
An unspecified number of layoffs will occur in newsrooms between Vancouver and Montreal starting in autumn. According to a memo obtained by the Globe and Mail (via Reuters), the Montreal Gazette plans to get rid of 20 journalists, while Postmedia will transfer its copyediting services out of its metropolitan newsroom to a centralized location in Hamilton.
The company is looking to sell its Toronto-based headquarters.
With many news outlets experimenting with the paywall model, Postmedia Network is trying out a metered system access to its Montreal, Ottawa and Vancouver publications – the Globe and Mail recently laid out plans to implement a paywall this fall. It is also trying to revamp its digital titles for its websites and smartphone and tablet apps.
“[We] must accelerate the pace of change so that the new company we are creating is the strongest, most future-focused and successful that it can be,” said Paul Godfrey, Postmedia chief executive. “Creating compelling content is still a major focus at Postmedia Network and we are proud of the exceptional work appearing on our print and digital pages every day.”
This news comes as Postmedia partnered with the Canadian Press to publish breaking news, which led to the end of approximately 24 editorial jobs.
The publication’s announcement coincides with its financial updates. The company posted revenues of just under $200 million in its fiscal second quarter and reported a modest $11.1 million loss. Postmedia was formed by former creditors of Canwest Global Communications Corp. two years ago.