Postmedia plans to buy SaltWire newspaper chain

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HALIFAX — Postmedia Network Inc. announced plans Friday to buy certain businesses belonging to SaltWire Network Inc. and The Halifax Herald Ltd., the two insolvent companies behind Atlantic Canada’s largest newspaper chain.

Postmedia said it wants to complete the acquisition by Aug. 26, but the company said the deal is subject to conditions, including “satisfactory outcomes” with unionized workers.

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The Toronto-based company said the potential acquisition is aligned with its commitment to preserving local journalism.

No financial details were disclosed.

The Halifax Herald owns the Chronicle Herald, an independent Halifax-based daily newspaper that was founded almost 200 years ago.

SaltWire Network owns other daily newspapers in Nova Scotia, Prince Edward Island and Newfoundland and Labrador, including the Cape Breton Post in Sydney, N.S., the Guardian in Charlottetown and the Telegram in St. John’s, N.L., as well as weekly papers and several digital publications.

Together, the companies employ about 800 independent contractors and 390 staff, including about 100 unionized positions, according to court documents.

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