Canadian Newspaper Ownership Consolidation

Postmedia Canada Network, the country’s largest newspaper publisher, is tightening its grip on the industry, buying the Sun Media chain of 175 tabloids and small city dailies, a move that reflects the declining fortunes of the news business.

The Montreal-based broadcasting and publishing company Quebecor acquired and expanded Sun Media through acquisitions, spending about $1.5 billion over 15 years. Postmedia paid around $275 million ($301 million Canadian dollars) for the group, which includes The Toronto Sun and The London Free Press. Both companies have been struggling in an increasingly digital world, with Postmedia and Sun Media facing a series of cutbacks and layoffs.