Canadian Magazine Industry News
17 February 2009,     MONTREAL
Canada Periodical Fund: Big mags the early losers
One of the biggest changes the new Canada Periodical Fund will bring about is the $1.5 million cap in funding an individual magazine can receive. While the limit might increase the share of the $75.5 million pie for small- and medium-sized titles, a handful of the country's largest magazines are already set to lose thousands—and in some cases, millions—in government funding because of the new rule.

Below is a list of titles set to lose out, based on the figures from the 2007-2008 Publications Assistance Program and Canada Magazine Fund lists of recipients:

Title Amount received in 2007-08 Set to lose
Canadian Living $3,134,162 $1,634,162
Maclean's $2,934,671 $1,434,671
Chatelaine $2,801,665 $1,301,665
Western Producer $2,156,416 $656,416
Reader's Digest $1,997,225 $497,225
House & Home $1,573,638 $73,638

These "savings" add up to $5.6 million, which, according to the DCH release, will be reallocated to small- and mid-sized titles.
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Wow, Torstar really seems to be on a mission to bankrupt one magazine after another....
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