The Black Press Ltd. logo is shown in this handout image. Black Press Ltd., the owner of dozens of community newspapers across Western Canada, says it has emerged from creditor protection following the restructuring and sale of the company. THE CANADIAN PRESS/HO.
DPi
Black Press Ltd., the owner of dozens of community newspapers across Western Canada, says it has emerged from creditor protection following the restructuring and sale of the company.
The Surrey, B.C.-based publisher announced in January it had entered creditor protection under the Companiesâ Creditors Arrangement Act.
On Monday it said it has closed its previously announced sale of the company to Canadian institutional investors Canso Investment Counsel Ltd. and Deans Knight Capital Management Ltd. as well as Carpenter Media Group.
0:30
Three Metro Vancouver newspapers ending print editions
Trending Now
Moscow attack suspects appear beaten in court, raising questions of torture
Toronto woman arrested in violent dog attack, child seriously injured
Black Press says it is now on solid and sustainable financial footing and will be able to continue to publish impactful local journalism and advertising.
Black Press publishes 150 daily and weekly newspapers, magazines and websites across Canada and the U.S. and employs approximately 1,200 people.
Under the terms of the sale, Black Press will remain Canadian-owned.
© 2024 The Canadian Press
Â
