TRANSCONTINENTAL TO ACQUIRE CANWEST COMMUNITY NEWSPAPERS
By Adnews Staff
Montreal-based Transcontinental Group is set to acquire Winnipeg-based CanWest Global Communications' community newspapers and related publications in Atlantic Canada and Saskatchewan. Transcontinental will pay $255 million for 12 community newspapers and 32 related publications. Titles being acquired include daily newspapers Halifax Daily News, Charlottetown Guardian, St. John's Telegram, New Glasgow Evening News, Cape Breton Post, Truro Daily News, Prince Albert Daily Herald and Moose Jaw Times Herald as well as weekly publications Northern Light and The Southwest Booster. The deal also includes commercial printing facilities in Saskatchewan and Prince Edward Island. The acquisition remains subject to regulatory approval. It is expected to close by mid-August.