NordStar, Postmedia would have 50% voting stake in a new company that would control most of the combined assets of both. Toronto Star would be spun into second company controlled by NordStar.
NordStar Capital, the company which controls the Toronto Star and Metroland Media, has announced it’s in talks to merge with Postmedia, the publisher of the National Post, Toronto Sun and other daily papers across the country.
Bitove would be chairman of the merged company, while Andrew MacLeod, chief executive of Postmedia, would be CEO. “The news media industry in Canada is under existential threat, and creative solutions are urgently needed,” MacLeod added. “All parties are committed to preserving the editorial independence of all the newspapers.”
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