Canadian Magazine Industry News
23 August 2011,     OTTAWA
Canadian Periodical Funding cheques expected in September
The cheques are coming a bit later than originally expected, but they will be in the mail next month, assured the director of periodical publishing for Heritage Canada.

Ramzi Saad explained during a MagNet panel in June that $75 million had been confirmed for the Canadian Periodical Fund, and publishers could expect cheques as early as August. Notifications are to be issued prior to payments to inform publishers how much assistance they will receive, he added.

 
Ramzi Saad


But in a recent email to Masthead, Saad explained notifications and cheques, in that order, are expected to be sent out next month.

"Funding decisions and payments for the Aid to Publishers component for fiscal year 2011-2012 can be expected in September 2011," he noted.

Magazine publishers will see a change this year on how much funding they will receive from previous years, he noted at the MagNet session. Last year was the first year of the new CPF, which replaced the old postal subsidy (Publications Assistance Program) and Canada Magazine Fund. Qualifying publishers transitioning to the new CPF were guaranteed an amount between 90% and 150% of what they received under the last year of the old programs. That won't necessarily be the case this year. "The amounts (given) to publishers will change," Saad said.

Payments will also now come in two parts, with cheques to be issued in September (80% of total funding), with another round of cheques expected in January of next year (remaining 20% of funding).
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