Tuesday, July 23, 2013

Canada Dry: Sun Media Corp. Shuttering 11 Newspapers; Axing 360 Jobs

Sun Media
(Photo credit: Wikipedia)
Earlier this month, Quebecor, Inc.-owned Sun Media Corp. announced 360 staffers would be pink-slipped as the media conglomerate decided to close 11 newspapers as the industry continues its hopeful march to digital salvation in the wake of declining print advertising and eroding circulation.

Bloomberg News reported that eight newspapers in Saskatchewan, Quebec, Manitoba and Ontario will fall by the wayside, along with editions of the free city paper, 24 Hours, in Edmonton, Calgary and Ottawa. The company hopes to realize a savings of 53 million dollars Canadian ($55 million) by the move, which Sun Media COO Julie Tremblay insists was necessary to remain competitive.

Less than a year ago, Sun Media slashed 500 jobs and turned off the lights at two Ontario production facilities, according to Bloomberg News.
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