Nordstar, Postmedia terminate merger talks
By Derek Winkler
Nordstar Capital, owner of Torstar, and Postmedia Network Canada have terminated discussions regarding a potential merger of Torstar’s Metroland assets with Postmedia’s assets, with the Toronto Star to remain independent. According to a statement, the companies were unable to come to agreement on the terms of the merger. The firms also cited “regulatory and financial uncertainty” as factors in the decision.
“These are challenging times for media companies, but we intend to keep working hard to give Canadians the news they need to stay informed, which is essential to our communities and to the functioning of our democracy,” said Jordan Bitove, owner of Nordstar.