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Canadian Dimension | Here’s how bad things have gotten in Canada’s troubled newspaper industry: one bankrupt chain is now being taken over by a chain that is effectively bankrupt. Believe it or not, there is a high-finance method to this madness, but as CD media columnist Marc Edge explains, it takes a vulture capitalist mindset to wrap your brain around it.
Media co-ops and employee-owned media have been growing around the world in recent years. Majority shareholders of the leading French daily Le Monde announced last year that they would donate it to a foundation controlled by its journalists and other employees. As news media in Canada continue to crumble, going the co-op route makes increasing sense for their displaced workers.
Canadian Dimension | For-profit media ownership has decimated journalism in Canada and continues to gouge us with some of the highest prices in the world for telecommunications services such as cellular phones, cable TV and Internet access. The private equity players and US hedge funds that own most of our largest newspapers are now harvesting them for hundreds of millions in cash.
Months after the arrests of two journalists, the firm’s security doesn’t seem to understand injunction terms and press freedoms.
Three members of the news media are among the dozens arrested on Wet’suwet’en territory. Two journalists remain in custody.