Canadian Publishing Industry News
4 August 2020,     TORONTO
Postmedia Revenue Down By 25%
Canada's largest newspaper publisher
Canada's largest newspaper publisher
Postmeia , which owns the National Post, Vancouver Province, London Free Press, Ottawa Citizen, Montreal Gazette, Sun Newspapers and other newspapers. reported a net loss for the three months ending May 31 of $13.8 million. Print advertising fell $23.7 million or 36.6 per cent to about $41 million in the quarter, while digital revenue dropped $10.7 million or 32.5 per cent to about $22 million. Digital advertising fell 37.7 per cent and print circulation revenue dropped 10.5 per cent. In April, Postmedia laid off 50 staff temporarily. They also closed 15 community publications in Manitoba and Ontario, resulting in about 30 permanent layoffs. In  May, Postmedia laid off about 40 unionized staff.
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