Category Archives: Post Media

Postmedia Network and Kijiji Join Forces to Provide Expanded Automotive Listings

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Source: financialpost.com

Postmedia Network, Canada’s largest publisher of paid English language daily newspapers and Kijiji, Canada’s most popular free, local, online classifieds website, today announced that the used car listings for all 10 Postmedia daily newspaper websites* and driving.ca are now powered by Kijiji. The new automotive classifieds sites offer a mobile friendly experience.

“By working with Kijiji we have turbo-charged our listings offerings while continuing to deliver Postmedia’s great content to our audiences,” said Wendy Desmarteaux, Senior Vice President, Postmedia. “The new used car classifieds sites give audiences more than double the used car listings and enrich their shopping experience.”

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Postmedia sees earnings slide

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Source: theglobeandmail.com

postmedia-logosPostmedia Network Inc. posted a sharp decrease in earnings in its first quarter, as a surge in digital revenue failed to make up for weak advertising and declining circulation revenues.

Chief executive officer Paul Godfrey doesn’t see things getting better, conceding in an interview that he expects print revenue to continue to decline by about 8 per cent a quarter. The company must cut as much as $80-million out of its operating budget in the next two years and aggressively increase its digital revenue, he said, to help pay down its $464-million debt and to make investments in the areas of the business that are making money.

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Postmedia first to test new rules on pensions

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Source: theglobeandmail.com

Postmedia Network Inc. is asking current and former employees to help the embattled newspaper publisher save some millions of dollars a year by extending the amount of time the company has to top up their pension fund.

The company – which publishes such metropolitan titles such as the National Post, Ottawa Citizen and Calgary Herald – is taking advantage of rules that were quietly implemented Nov. 1 in Ontario that allow companies incorporated in the province to fully fund their pension shortfalls in 10 years rather than five.

Click the link to read the entire story @theglobeandmail.com

Postmedia sheds costs with shift to Hamilton

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Source: theglobeandmail.com
Postmedia Network Inc. is accelerating plans to slash costs at titles across the country, as it grapples with a heavy debt load and a relatively bleak view of the future of print advertising.

As the industry confronts a prolonged slump in advertising, Postmedia has moved aggressively to shore up its balance sheet and centralize the production of its newspapers.

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Tentative deal at PNG

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Source: mediaunion.ca

A tentative four-year deal has been reached between Local 2000 and Pacific News Group covering all unionized employees of the Sun and Province newspapers.

“This was a very hard round of bargaining because of the difficult financial condition of the company and the troubled state of the newspaper industry,” said Local President Mike Bocking. “The agreement reached is the best possible under the circumstances.”

There will be no wage increase in the first three years of the contract, which expired Nov. 30, 2010, and a 1% raise on Dec. 1, 2013.

Complete details of the agreement will be released at chapel meetings Thursday and at an information meeting Sunday, July 22, 11 a.m. at the Metrotown Hilton hotel. Voting will follow immediately after the meeting.

Final details on voting will be announced tomorrow.

Jobs lost as PNG exits insert business

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Source: mediaunion.ca

The Vancouver Sun and Province are getting out of the insert business effective July 15, 2012, a move that will cost over 50 Local 2000 members their jobs. Management informed the union about the move on Monday, saying that the insert business was on track to lose almost $1 million this year. Only about 12 members will be eligible for relocation (severance) pay under Part E (the Mailroom Department) of our collective agreement.

PNG mailers are divided into three groups: Regulars, substitutes and day slippers. Regulars are guaranteed hours and operate the machinery that assembles the newspaper for delivery; substitutes fill in for regulars, but get the majority of their work when inserts are added to the newspapers; day slippers are called in as needed. Only the 12 regulars who will fall to the substitute “board” under the company’s plan, are eligible for relocation pay of up to one year’s pay. Even though some substitutes have over 20 years seniority, they are not eligible for severance of any sort, in these circumstance under existing contract language.

Discussions  with the company are ongoing under Section 54 of the B.C. Labour Code.

TEXT-S&P revises Postmedia outlook to negative

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Source: reuters.com

(The following statement was released by the rating agency) Overview — We are revising our outlook on Toronto-based Postmedia Network Inc. to negative from stable based on the company’s weaker-than-expected operating performance in the second quarter ended Feb. 29, 2012. — We are affirming all our ratings on the company, including our ‘B’ long-term corporate credit rating. — The negative outlook reflects Standard & Poor’s view of the ongoing challenges Postmedia faces with revenue and profitability declines given difficult industry fundamentals.

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Is Postmedia Canadian enough? Union wants court to decide

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Source: thestar.com

OTTAWA—A Canadian union is going to court in an effort to compel the federal government to rule whether the recently created Postmedia newspaper group meets Canadian ownership standards and is in Canada’s national interest.

The Communications, Energy and Paperworkers Union of Canada (CEP) has asked the …………….Read story here