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SaltWire Network

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SaltWire Network Inc. is a Canadian newspaper publishing company owned by Postmedia.[1] Saltwire owns 23 daily and weekly newspapers in Atlantic Canada including The Chronicle Herald in Halifax.[2] The company was formed in 2017 via its purchase of 27 newspapers from Transcontinental.

SaltWire Network Inc.
Company typePublic
IndustryMass media
Founded2017; 7 years ago (2017)
Headquarters
Halifax, Nova Scotia
,
Canada
Area served
Atlantic Canada
OwnerPostmedia
Websitewww.saltwire.com

As of 2024, the company employs about 800 independent contractors and 390 staff (including Halifax Herald Ltd.)[3]

History

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On April 13, 2017, Halifax's independently owned The Chronicle Herald announced its acquisition of 27 newspapers in the region from Transcontinental Media, via the newly formed parent company SaltWire Network.[4] The company had begun a gradual exit from mainstream publishing in order to focus on specialty media and educational publishing.[5] The exact purchase price was not disclosed, although business analysts estimated that the publications were worth approximately $30 million in total.[6] The transaction was criticized by a number of analysts,[7] as it occurred in the middle of a strike by Chronicle Herald employees during which the paper had claimed declining revenues as its reason for demanding major concessions including wage reductions, reduced pension contributions and the removal of several staff divisions from the bargaining unit.[8]

In June 2018, Saltwire Network changed the Carbonear-based weekly newspaper, The Compass, from a subscriber model to a free total market product deliver as a flyer package wrap.

In July 2018, Saltwire Network closed The Beacon, The Advertiser, The Pilot and The Nor'wester, and merged them into a free weekly known as The Central Voice—which began publication on August 1, 2018.[9]

In March 2019, all SaltWire publications introduced metered paywalls.[10]

In March 2019, SaltWire announced the sale of 10 of its buildings across Atlantic Canada.[11]

Also in March 2019, the company terminated its affiliation with the Canadian Press newswire service, opting instead to become a client of Postmedia and Reuters.[12]

In April 2019, SaltWire announced it was turning Corner Brook-based The Western Star into a weekly delivered free to consumers as a flyer wrap. This resulted in the layoff of around 30 employees. Independent delivery contractors were also affected.[13] At the same time, it was announced that the two Labrador weeklies would merge into one called The Labrador Voice, which closed a year later.[14]

In April 2019, SaltWire filed a lawsuit in the Supreme Court of Nova Scotia against Transcontinental, accusing it of overstating and misrepresenting details surrounding the revenue of the papers it had acquired.[15] The company threatened a counter-suit, stating that the sale was "conducted based on fair, accurate and timely information", and accusing SaltWire of failing to "fulfil its payment obligations".[12][16]

In March 2024, both lender Fiera Private Debt and SaltWire applied to place the media company under creditor protection. Fiera was owed over $32 million.[17]

On July 26, 2024, Postmedia entered an agreement to purchase SaltWire.[18] The transaction was completed a month later.[19]

Publications

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Newfoundland and Labrador

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Nova Scotia

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Prince Edward Island

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References

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  1. ^ "Postmedia completes $1M purchase of Atlantic Canada's largest newspaper chain", CBC.ca. August 26, 2024.
  2. ^ "How SaltWire became the largest media group in Atlantic Canada". Global News, April 13, 2017.
  3. ^ "Postmedia plans to buy Atlantic Canada's insolvent SaltWire newspaper chain". Toronto Sun. July 26, 2024. Retrieved July 26, 2024.
  4. ^ "Halifax Chronicle Herald buys Transcontinental papers in Atlantic Canada". Toronto Star, April 13, 2017.
  5. ^ "Transcontinental selling 93 newspapers in Ontario and Quebec". CBC News. Retrieved 18 April 2017.
  6. ^ "Big deal a shocker: Herald's purchase of Transcontinental assets surprises observers". The Chronicle Herald. April 13, 2017. Archived from the original on April 23, 2017. Retrieved 2022-01-16.
  7. ^ "Chronicle Herald buys all Atlantic Canadian Transcontinental papers". CBC News Nova Scotia, April 13, 2017.
  8. ^ "Labour minister defends article in striking Chronicle Herald". CBC News Nova Scotia, November 16, 2016.
  9. ^ "'No pleasure' in amalgamating 4 community newspapers, says SaltWire". CBC. Retrieved 2019-03-26.
  10. ^ "SaltWire launching metered paywall Monday". Cape Breton Post. Archived from the original on February 25, 2019. Retrieved 2022-01-16.
  11. ^ "SaltWire puts number of its newspaper buildings up for sale". The Telegram. Archived from the original on March 27, 2019. Retrieved 2022-01-16.
  12. ^ a b "Transcontinental defends sale of East Coast newspapers to SaltWire in wake of lawsuit". The Globe and Mail. 12 April 2019.
  13. ^ "The Western Star goes weekly | The Western Star". www.thewesternstar.com. Retrieved 2019-04-11.
  14. ^ Whitten, Elizabeth (2022-12-23). "The Case for Local News". The Independent. Retrieved 2024-07-26.
  15. ^ "SaltWire sues former newspaper chain owner over revenue 'misrepresentation'". CBC News. April 10, 2019. Retrieved April 11, 2019.
  16. ^ "Transcontinental defends its sale of Atlantic Canada media assets". CBC News. Canadian Press. April 11, 2019. Retrieved June 30, 2019.
  17. ^ Hoffman, Josh (2024-03-11). "SaltWire Network files for creditor protection". CBC Nova Scotia. Retrieved 2024-03-11.
  18. ^ Yarr, Kevin; Walton, Victoria (Jul 26, 2024). "Postmedia enters agreement to buy SaltWire chain of newspapers". CBC News. Retrieved July 26, 2024.
  19. ^ "Postmedia Completes Acquisition of Saltwire Network". PostMedia. Retrieved 2024-10-30.
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