Postmedia Network Canada has bought Brunswick News form J. D. Irving, Limited. The acquisition includes BNI’s daily and weekly newspapers, digital properties, and parcel delivery business and was settled for $7.5M in cash and $8.6M in variable voting shares of Postmedia.
The daily and weekly newspapers trading hands include the Telegraph-Journal, Times Globe, Times & Transcript, The Daily Gleaner, Miramichi Leader, Woodstock Bugle-Observer, Bathurst Northern Light, Kings County Record, The Campbellton Tribune, and The Victoria Star.
“We are pleased that Postmedia, one of Canada’s largest media organizations, will acquire all our newspapers and media products through the purchase of Brunswick News, which represents an exit from the media business by J.D. Irving, Limited. Postmedia is well positioned to make the transition to the digital world of providing New Brunswickers with a reliable source of local, regional, and national news as well as access to much broader news coverage,” said Jim Irving, Co-CEO of J.D. Irving, Limited.