Postmedia prepares to buy into The Logic
By Adnews Staff
Postmedia Network has signed a non-binding letter of intent to purchase a minority stake in online news property The Logic. Through this transaction, Postmedia audiences would gain access to journalistic content from The Logic. The two companies would also participate in joint ventures such as content licencing, marketing and events. The deal is expected to close this summer, subject to closing conditions.
“The innovation economy is thriving in Canada and The Logic has tapped into the stories and insights that make it tick while demonstrating, in a very short period of time, its strength and credibility in the space,” said Andrew MacLeod, president and CEO of Postmedia.