Postmedia Network Inc.- www.entwicklungs-raum.com /7e6 Wed, 30 Jan 2019 13:38:56 +0000 en-US hourly 1 https://wordpress.org/?v=4.9.1 Postmedia Signs Agreement with CAAT Pension Plan- www.entwicklungs-raum.com /7e6/2019/01/30/postmedia-signs-agreement-with-caat-pension-plan/ Wed, 30 Jan 2019 13:36:42 +0000 /7e6/?p=5261 January 30, 2019 (TORONTO) – Postmedia Network Canada Corp. today announced that its subsidiary, Postmedia Network Inc., (“Postmedia” or the “Company”) has entered into an agreement with the Colleges of Applied Arts & Technology Pension Plan (the “CAAT Plan”) to merge Postmedia’s six defined benefit pension plans, with assets of over $500 million (the “Postmedia Plans”), with the CAAT Plan effective July 1, 2019 (the “Effective Date”).

The agreement remains subject to approval by the CAAT Plan Board of Trustees and Sponsors’ Committee. The merger is also subject to customary closing conditions including approval from both Postmedia Plan members and the Financial Services Commission of Ontario, or its successor (collectively, “FSCO”), following the submission of a prescribed application requesting consent to the merger.

Assuming all approvals are obtained, Postmedia will become a participating employer under the CAAT Plan on the Effective Date. All members of the Postmedia Plans, as well as members of Postmedia’s defined contribution pension plan will become members of the CAAT Plan on the Effective Date.

“We look forward to joining the CAAT Plan group of employers to provide Postmedia employees with sustainable defined benefit pensions while enabling the Company to manage costs through fixed and predictable pension funding,” said Brian Bidulka, Executive Vice President and Chief Financial Officer, Postmedia.

The CAAT Plan was established in 1967 and became a jointly sponsored pension plan in 1995. The CAAT Plan is registered under the Ontario Pension Benefits Act. It currently has more than 50,000 members from 50 participating employers and has $11 billion under management. The CAAT Plan is 118% funded on a going-concern basis, with a funding reserve of $2.3 billion, based on its latest filed actuarial valuation as of January 1, 2018.

If approved by Postmedia Plan members, all members of the Postmedia Plans and Postmedia’s defined contribution pension plan will begin accruing benefits under the DBplus provisions of the CAAT Plan beginning July 1, 2019. DBplus is a defined benefit pension plan with a fixed contribution rate for members, matched dollar for dollar by employers.

The CAAT Plan will assume defined benefit obligations accrued prior to July 1, 2019 contingent on the approval by FSCO of the transfer of over $500 million of assets of the Postmedia Plans. Once this transfer is completed, cash funding obligations related to the transferred Postmedia Plans deficits will be payable over a term of ten years which is comparable to the Company’s current funding expectations over that time period.

About Postmedia Network Canada Corp.

Postmedia Network Canada Corp. (TSX:PNC.A, PNC.B) is the holding company that owns Postmedia Network Inc., a Canadian newsmedia company representing more than 140 brands across multiple print, online, and mobile platforms. Award-winning journalists and innovative product development teams bring engaging content to millions of people every week whenever and wherever they want it. This exceptional content, reach and scope offers advertisers and marketers compelling solutions to effectively reach target audiences. For more information, visit chơi casino trực tuyến www.entwicklungs-raum.com.

Forward-Looking Information

This news release may include information that is “forward-looking information” under applicable Canadian securities laws. The Company has tried, where possible, to identify such information and statements by using words such as “believe,” “expect,” “intend,” “estimate,” “anticipate,” “may,” “will,” “could,” “would,” “should” and similar expressions and derivations thereof in connection with any discussion of future events, trends or prospects or future operating or financial performance. Forward-looking statements in this news release include, but are not limited to, statements with respect to with respect to: the approval by the CAAT Plan Board of Trustees and Sponsors’ Committee of the agreement and implementation, completion and timing of the merger of the Postmedia Plans with the CAAT Plan. By their nature, forward-looking information and statements involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future. These risks and uncertainties include, among others: the risk that the merger of the Postmedia Plans with the CAAT Plan may not obtain the required regulatory approvals, approval by Postmedia Plan members or be completed on the terms or on the timeline described in this press release or at all. For a complete list of risk factors related to Postmedia’s business, please refer to the section entitled “Risk Factors” contained in our annual management’s discussion and analysis for the years ended August 31, 2018 and 2017. Although the Company bases such information and statements on assumptions believed to be reasonable when made, they are not guarantees of future performance and actual results of operations, financial condition and liquidity, and developments in the industry in which the Company operates, may differ materially from any such information and statements in this press release. Given these risks and uncertainties, undue reliance should not be placed on any forward-looking information or forward-looking statements, which speak only as of the date of such information or statements. Other than as required by law, the Company does not undertake, and specifically declines, any obligation to update such information or statements or to publicly announce the results of any revisions to any such information or statements.

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For more information:
?
Media Contact
Phyllise Gelfand
Vice President, Communications
(416) 442-2936
pgelfand@ chơi casino trực tuyến www.entwicklungs-raum.com

Investor Contact
Brian Bidulka
Executive Vice President and Chief Financial Officer
(416) 383-2325
bbidulka@ chơi casino trực tuyến www.entwicklungs-raum.com

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Postmedia Network Announces Election of Directors- www.entwicklungs-raum.com /7e6/2019/01/11/postmedia-network-announces-election-of-directors-7/ Fri, 11 Jan 2019 21:48:00 +0000 /7e6/?p=5256 January 11, 2019 (TORONTO) – Postmedia Network Canada Corp. (“Postmedia” or the “Company”) is pleased to report that at its annual meeting of shareholders, held in Toronto on January 10, 2019, each of the directors listed as nominees in the management proxy circular dated November 27, 2018 were elected as directors of the Corporation. Directors have been appointed to serve until the close of the next annual meeting of shareholders.

Election of Directors – Elected

Nominee Outcome Votes For*

Votes

Withheld*

Broker

Non-Votes

Paul Godfrey Approved 13,942 2 74
John Bode Approved 13,942 2 74
Janet Ecker Approved 13,942 2 74
Wendy Henkelman Approved 13,942 2 74
Mary Junck Approved 13,942 2 74
Daniel Rotstein Approved 13,942 2 74
Graham Savage Approved 13,942 2 74
Peter Sharpe Approved 13,942 2 74

*The vote for this motion was taken by a show of hands so the number of votes disclosed reflects only those proxies received by management in advance of the meeting.

About Postmedia Network Canada Corp.

Postmedia Network Canada Corp. (TSX:PNC.A, PNC.B) is the holding company that owns Postmedia Network Inc., a Canadian newsmedia company representing more than 140 brands across multiple print, online, and mobile platforms. Award-winning journalists and innovative product development teams bring engaging content to millions of people every week whenever and wherever they want it. This exceptional content, reach and scope offers advertisers and marketers compelling solutions to effectively reach target audiences. For more information, visit chơi casino trực tuyến www.entwicklungs-raum.com.

 

For more information:
Media Contact
Phyllise Gelfand
Vice President, Communications
(416) 442-2936
pgelfand@ chơi casino trực tuyến www.entwicklungs-raum.com

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Andrew MacLeod named Postmedia President and Chief Executive Officer; Paul Godfrey, Executive Chair- www.entwicklungs-raum.com /7e6/2019/01/10/andrew-macleod-named-postmedia-president-and-chief-executive-officer-paul-godfrey-executive-chair/ Thu, 10 Jan 2019 17:43:57 +0000 /7e6/?p=5225 January 10, 2019 (TORONTO) – Postmedia Network Canada Corp. (“Postmedia” or the “Company”) is pleased to announce the appointment of Andrew MacLeod to the role of President and Chief Executive Officer. It is expected that Mr. MacLeod will be appointed to the Board of Directors in the near term.

“It is with tremendous confidence that I recommended to the Board of Directors that the timing is right for Andrew MacLeod to take on the Chief Executive Officer position at Postmedia continuing the succession plan that included his appointment to President and Chief Operating Officer in October, 2017,” said Paul Godfrey, Executive Chair. “Over the past fifteen months, since taking on the role of President, Andrew has championed a strategy that has delivered continued growth in new revenues and successful structural transformation that will continue to put Postmedia on a strong footing at a critical time for the industry.”

As Executive Chair, Mr. Godfrey will serve as a member of the senior management team and advisor to the President and CEO and continue to provide leadership for the Board of Directors.

As President and CEO, Mr. MacLeod will have direct responsibility for all aspects of Postmedia’s operations including more than 140 brands across multiple media platforms.

“Postmedia’s Board of Directors is confident in the traction and direction of the Company’s strategy and unanimously supports Andrew MacLeod’s appointment as the new President and Chief Executive Officer,” said Peter Sharpe, Lead Director.

“I am grateful to Paul Godfrey and Postmedia’s Board of Directors for their confidence and ongoing support,” said Andrew MacLeod, President and Chief Executive Officer. “Paul has led this company since its inception through tremendous change and important strategic initiatives and Postmedia will continue to benefit from his industry insight as we move forward. Looking ahead, we remain committed to accelerating our two-pronged strategy – to extend the legacy runway and grow new digital revenue as we continue to face a disrupted media ecosystem head on. We have exceptional teams in place, dedicated to the future of Postmedia and I am proud to work alongside them to deliver on our aggressive targets, together.”

About Postmedia Network Canada Corp.

Postmedia Network Canada Corp. (TSX:PNC.A, PNC.B) is the holding company that owns Postmedia Network Inc., a Canadian newsmedia company representing more than 140 brands across multiple print, online, and mobile platforms. Award-winning journalists and innovative product development teams bring engaging content to millions of people every week whenever and wherever they want it. This exceptional content, reach and scope offers advertisers and marketers compelling solutions to effectively reach target audiences. For more information, visit chơi casino trực tuyến www.entwicklungs-raum.com.

Forward-Looking Information

This news release may include information that is “forward-looking information” under applicable Canadian securities laws. The Company has tried, where possible, to identify such information and statements by using words such as “believe,” “expect,” “intend,” “estimate,” “anticipate,” “may,” “will,” “could,” “would,” “should” and similar expressions and derivations thereof in connection with any discussion of future events, trends or prospects or future operating or financial performance. Forward-looking statements in this news release include, but are not limited to, statements with respect to the structural transformation of the Company and new revenue growth initiatives, including digital revenue growth. By their nature, forward-looking information and statements involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future. These risks and uncertainties include, among others: competition from digital and other forms of media; the effect of economic conditions on advertising revenue; the ability of the Company to build out its digital media and online businesses; the failure to maintain current print and online newspaper readership and circulation levels; the realization of anticipated cost savings; possible damage to the reputation of the Company’s brands or trademarks; possible labour disruptions; possible environmental liabilities, litigation and pension plan obligations; fluctuations in foreign exchange rates and the prices of newsprint and other commodities. For a complete list of our risk factors please refer to the section entitled “Risk Factors” contained in our annual management’s discussion and analysis for the years ended August 31, 2018 and 2017. Although the Company bases such information and statements on assumptions believed to be reasonable when made, they are not guarantees of future performance and actual results of operations, financial condition and liquidity, and developments in the industry in which the Company operates, may differ materially from any such information and statements in this press release. Given these risks and uncertainties, undue reliance should not be placed on any forward-looking information or forward-looking statements, which speak only as of the date of such information or statements. Other than as required by law, the Company does not undertake, and specifically declines, any obligation to update such information or statements or to publicly announce the results of any revisions to any such information or statements.

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For more information:
?
Media Contact
Phyllise Gelfand
Vice President, Communications
(416) 442-2936
pgelfand@ chơi casino trực tuyến www.entwicklungs-raum.com

Investor Contact
Brian Bidulka
Executive Vice President and Chief Financial Officer
(416) 383-2325
bbidulka@ chơi casino trực tuyến www.entwicklungs-raum.com

 

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Postmedia Reports First Quarter Results- www.entwicklungs-raum.com /7e6/2019/01/10/postmedia-reports-first-quarter-results-4/ Thu, 10 Jan 2019 17:41:01 +0000 /7e6/?p=5221 January 10, 2019 (TORONTO) – Postmedia Network Canada Corp. (“Postmedia” or the “Company”) today released financial information for the three months ended November 30, 2018.

Management’s Discussion and Analysis

Consolidated Financial Statements

Investor and Analyst Conference Call – Slide Presentation

Highlights from the Quarter

  • Continued digital growth – Digital advertising revenue up 10.1%– the eighth consecutive quarter of double-digit growth in this area1
  • Slowing legacy decline – Print advertising revenue down 13.9% and print circulation revenue down 4.8% versus 17.6% and 5.5% respectively in Q1 F20181
  • Operating income before depreciation amortization and restructuring was $21.7 million in the quarter down $2.2 million from prior year reflecting the above noted revenue changes as well as transformation initiatives which resulted in a 9.4% reduction in operating costs
  • Debt repayment in the quarter was $8.7 million and subsequent to quarter end, a real estate sale will result in further debt repayment of $20.4 million.
  • After this repayment, first-lien debt will be reduced by 53% by retiring $119.7 million of the original $225.0 million since October 2016.

First Quarter Operating Results

Revenue for the quarter was $171.3 million as compared to $189.0 million in the same period in the prior year, a decrease of $17.7 million or 9.4%. The revenue decline was primarily due to decreases in print advertising revenue of $14.0 million or 15.4% and print circulation revenue of $4.6 million or 7.9%. Digital revenue increased by $1.5 million or 4.7% in the quarter with digital advertising revenue up 6.3%.

Notably, adjusted for the impact of the publications acquired and sold in the Company’s first quarter of Fiscal 2018, revenue for the quarter decreased 6.9% relative to the same period in the prior year including decreases in print advertising revenue of 13.9%, print circulation revenue of 4.8% and an increase in digital revenue of 7.9% which includes an increase in digital advertising revenue of 10.1%.

”We are pleased to report ongoing traction on the key elements of our strategy including digital revenue growth,” said Paul Godfrey, Executive Chairman and Chief Executive Officer, Postmedia. “Our teams are focused on continuing to promote the great value of Postmedia’s brands among audiences and marketers and working together to transform our Company amid a shifting landscape.”

Total operating expenses excluding depreciation, amortization and restructuring decreased $15.5 million or 9.4% for the quarter, relative to the same period in the prior year. The decrease was as a result of various cost reduction initiatives.

Operating income before depreciation, amortization and restructuring of $21.7 million in the quarter represents a decrease of $2.2 million or 9.2% relative to the same period in the prior year. The decrease is due to decreases in print advertising and circulation revenues only partially offset by increased digital revenue and operating expense decreases.

Net loss in the quarter ended November 30, 2018 was $1.4 million, as compared to net earnings of $5.8 million in the same period in the prior year. The change was primarily the result of a gain on disposal of operations in Q1 of Fiscal 2018, losses on derivative financial instruments and the disposal of property and equipment in Q1 of Fiscal 2019, partially offset by a decrease in restructuring expense.

Business Transformation Initiatives

During the three months ended November 30, 2018, the Company implemented initiatives – including compensation expense reductions, real estate rationalization, production efficiencies and other transformation programs – which are expected to result in approximately $4 million of net annualized cost savings.

The Company intends to continue to identify and undertake ongoing cost reduction initiatives in an effort to address revenue declination in the legacy print business.

Debt Repayment

During the three months ended November 30, 2018 the Company made a mandatory debt repayment of $8.7 million bringing the total principal amount of first-lien notes outstanding to $125.6 million.

Subsequent to the end of the quarter, the company sold the Ottawa Citizen facility. Net proceeds from the sale will be used as part of a redemption of $20.4 million first-lien notes at par in accordance with the terms and conditions of the amended and restated first-lien notes indenture. After this redemption the Company will have $105.3 million of first-lien debt outstanding – bringing the total repayments made, since October 2016, to $119.7 million.

Additional Information

Additional information, including financial statements and management’s discussion and analysis can be found on the Company’s website at www.postmedia.com/investors/financial-reports or on SEDAR at www.sedar.com.

Note: All dollar amounts are expressed in Canadian dollars unless otherwise specified.

About Postmedia Network Canada Corp.

Postmedia Network Canada Corp. (TSX:PNC.A, PNC.B) is the holding company that owns Postmedia Network Inc., a Canadian newsmedia company representing more than 140 brands across multiple print, online, and mobile platforms. Award-winning journalists and innovative product development teams bring engaging content to millions of people every week whenever and wherever they want it. This exceptional content, reach and scope offers advertisers and marketers compelling solutions to effectively reach target audiences. For more information, visit chơi casino trực tuyến www.entwicklungs-raum.com.

Forward-Looking Information

This news release may include information that is “forward-looking information” under applicable Canadian securities laws. The Company has tried, where possible, to identify such information and statements by using words such as “believe,” “expect,” “intend,” “estimate,” “anticipate,” “may,” “will,” “could,” “would,” “should” and similar expressions and derivations thereof in connection with any discussion of future events, trends or prospects or future operating or financial performance. Forward-looking statements in this news release include statements with respect to the implementation and results of the Company’s transformation initiatives, the realization of anticipated cost savings and the identification and undertaking of ongoing cost savings initiatives. By their nature, forward-looking information and statements involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future. These risks and uncertainties include, among others: competition from digital and other forms of media; the effect of economic conditions on advertising revenue; the ability of the Company to build out its digital media and online businesses; the failure to maintain current print and online newspaper readership and circulation levels; the realization of anticipated cost savings; possible damage to the reputation of the Company’s brands or trademarks; possible labour disruptions; possible environmental liabilities, litigation and pension plan obligations; fluctuations in foreign exchange rates and the prices of newsprint and other commodities. For a complete list of our risk factors please refer to the section entitled “Risk Factors” contained in our annual management’s discussion and analysis for the years ended August 31, 2018 and 2017. Although the Company bases such information and statements on assumptions believed to be reasonable when made, they are not guarantees of future performance and actual results of operations, financial condition and liquidity, and developments in the industry in which the Company operates, may differ materially from any such information and statements in this press release. Given these risks and uncertainties, undue reliance should not be placed on any forward-looking information or forward-looking statements, which speak only as of the date of such information or statements. Other than as required by law, the Company does not undertake, and specifically declines, any obligation to update such information or statements or to publicly announce the results of any revisions to any such information or statements.

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For more information:
Media Contact
Phyllise Gelfand
Vice President, Communications
(416) 442-2936
pgelfand@ chơi casino trực tuyến www.entwicklungs-raum.com

?

Investor Contact
Brian Bidulka
Executive Vice President and Chief Financial Officer
(416) 383-2325
bbidulka@ chơi casino trực tuyến www.entwicklungs-raum.com

1Adjusted for the impact of the publications acquired and sold in the Company’s first quarter of Fiscal 2018.

Consolidated Statements of Operations

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Postmedia Network Canada Corp. Notice of Investors’ Teleconference- www.entwicklungs-raum.com /7e6/2018/12/13/postmedia-network-canada-corp-notice-of-investors-teleconference-19/ Thu, 13 Dec 2018 15:57:01 +0000 /7e6/?p=5209 December 13, 2018 (TORONTO) – Postmedia Network Canada Corp. (“Postmedia” or “the Company”) will host a conference call on Thursday, January 10, 2019 at 3:00 p.m. Eastern Time to discuss its financial results for the quarter ended November 30, 2018.

Paul Godfrey, Executive Chairman and CEO, and Andrew MacLeod, President and COO will host the call. Earlier in the day on January 10, 2019, the Company will issue a news release disclosing these results and related financial information. Materials will also be posted on the Company’s website, chơi casino trực tuyến www.entwicklungs-raum.com.

Investors and analysts may participate in the call at 1-800-676-3901.

Media and other interested persons are invited to participate in the call on a listen-only basis at 1-888-223-6764.

For those unable to participate in the live call, a recorded version will be available approximately one hour after the call until January 17, 2019 and can be accessed at 416-626-4100 or 1-800-558-5253 using the passcode 21911435. A recording of the call will also be posted on the Company’s website.

About Postmedia Network Canada Corp.

Postmedia Network Canada Corp. (TSX:PNC.A, PNC.B) is the holding company that owns Postmedia Network Inc., a Canadian newsmedia company representing more than 140 brands across multiple print, online, and mobile platforms. Award-winning journalists and innovative product development teams bring engaging content to millions of people every week whenever and wherever they want it. This exceptional content, reach and scope offers advertisers and marketers compelling solutions to effectively reach target audiences. For more information, visit chơi casino trực tuyến www.entwicklungs-raum.com.

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For more information:
Phyllise Gelfand
Vice President, Communications
(416) 442 2936
pgelfand@ chơi casino trực tuyến www.entwicklungs-raum.com

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Financial Post Launches Innovation Series- www.entwicklungs-raum.com /7e6/2018/11/15/financial-post-launches-innovation-series/ Thu, 15 Nov 2018 20:32:08 +0000 /7e6/?p=5189 November 15, 2018 (TORONTO) – Postmedia Network Inc. (“Postmedia”) today announced the launch of an in-depth, ongoing examination of innovation in Canada and what Canadian companies need to survive and prosper in the global ideas economy. Innovation Nation is an expansive project launched today with a standalone website, a high-impact speaking event this week – in conversation with Jim Balsillie, Chair of the Council of Canadian Innovators and Financial Post’s Kevin Carmichael – and with stories to be published in the National Post, Financial Post and Postmedia newspapers across the country.

“Over the next three months, we’ll be exploring the issues surrounding innovation and highlighting some of the innovators and scientists on the cutting edge of the new economy,” said Anne Marie Owens, Editor-in-Chief, National Post. “We set out to answer the question, ‘what is needed for Canada to thrive in the cut-throat ideas economy’ by reaching out to thinkers, business leaders and policy experts.”

Partners on Innovation Nation include the Council of Canadian Innovators, a national business council of Canadian tech CEOs, and the Centre for International Governance Innovation, a global policy think tank.

Canada has a rich history of innovation, whether it’s the invention of the pacemaker, the snowmobile or the smartphone, or the discovery of insulin. But in the next few decades, powerful technological forces will transform the global economy, making the ability to successfully commercialize innovation the key to prosperity in the 21st-century ideas economy. Breakthroughs in artificial intelligence, robotics, nanotechnology, biotechnology, energy storage and quantum computing are accelerating and are poised to affect every aspect of our lives.

In many ways, Canada is well positioned to succeed: it has one of the most educated workforces in the world, ample digital infrastructure, a reputation for welcoming immigrants and is ranked highly when it comes to openness to trade and investment. But headwinds persist — the United States and China have influenced global trade rules to benefit the massive companies inside their borders, Canada’s top technology talent often end up working outside of this country, and it has become immensely difficult for capital- and talent-starved companies to reach the scale they need to compete globally.

Innovation Nation launches online at chơi casino trực tuyếninnovation.financialpost.com and stories can also be found online on the innovation vertical of financialpost.com. Stories will appear in print in Saturday’s National Post and in Postmedia newspapers across country.

This initiative is being supported by an integrated ad campaign produced in-house by Postmedia’s marketing team.

Advertising opportunities include three tiers of integrated sponsorships that include print media in Financial Post, online on the FP Innovation Channel as well as innovation events. For more information about advertising and sponsorship opportunities contact Jutta Gruenewald, Vice President National Sales at JGruenewald@ chơi casino trực tuyến www.entwicklungs-raum.com or visit www.postmediasolutions.com

About Postmedia Network Inc.

Postmedia Network Inc., a wholly owned subsidiary of Postmedia Network Canada Corp. (TSX:PNC.A, PNC.B), is a Canadian newsmedia company representing more than 140 brands across multiple print, online, and mobile platforms. Award-winning journalists and innovative product development teams bring engaging content to millions of people every week whenever and wherever they want it. This exceptional content, reach and scope offers advertisers and marketers compelling solutions to effectively reach target audiences. For more information, visit chơi casino trực tuyến www.entwicklungs-raum.com.

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For more information:
Phyllise Gelfand
Vice President, Communications
Postmedia
(416) 442-2936
pgelfand@ chơi casino trực tuyến www.entwicklungs-raum.com
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Postmedia and PR?HBTD Announce Exclusive Partnership- www.entwicklungs-raum.com /7e6/2018/11/06/postmedia-and-prohbtd-announce-exclusive-partnership/ Tue, 06 Nov 2018 15:01:26 +0000 /7e6/?p=5166 November 6, 2018 (TORONTO) – Postmedia Network Inc. (“Postmedia”) today announced a strategic investment in PR?HBTD Media, Inc. (“PR?HBTD”), a leading global cannabis brand and media platform. The investment allows Postmedia to exclusively partner with PR?HBTD to offer best-in-class video content and marketing opportunities for companies in Canada.

“Our investment in PR?HBTD reinforces Postmedia’s commitment to being at the forefront of the cannabis content and solutions space in Canada,” said Andrew MacLeod, President and Chief Operating Officer, Postmedia. “Our goal is to help close the gap for clients making sure they are not only reaching the right audience but that their content is premium, relevant and dynamic.”

The PR?HBTD eco-system includes chơi casino trực tuyếnwww.prohbtd.com, the premier online lifestyle destination for modern cannabis enthusiasts and a unique set of service capabilities targeted to the cannabis industry. These services include original content, digital storytelling and premium marketing opportunities that are focused on helping cannabis companies reach and educate consumers about their products and services. PR?HBTD has recently opened offices in Toronto and Vancouver, with its head office in Los Angeles, California.

“This exclusive partnership accelerates our ability to help cannabis companies in Canada tell their stories and engage consumers,” said Drake Sutton-Shearer, CEO of PR?HBTD, “Postmedia truly understands the market and together we’ll help the companies that matter to stand out above the noise.”

Postmedia and PR?HBTD will work with cannabis companies to achieve broader and significant brand presence in the highly restricted Canadian market by helping them shape their brand messaging through video storytelling and premium marketing initiatives. Access to PR?HBTD’s video capabilities and original content library bolsters Postmedia’s existing video offerings and is available exclusively in Canada on The GrowthOp, Postmedia’s cannabis editorial brand and on other relevant Postmedia network channels, around which advertisers can position their ads.
For more information about advertising and sponsorship opportunities on Postmedia’s Cannabis verticals, visit www.thegrowthop.com/advertise.

About Postmedia Network Inc.
Postmedia Network Inc., a wholly owned subsidiary of Postmedia Network Canada Corp. (TSX:PNC.A, PNC.B), is a Canadian newsmedia company representing more than 140 brands across multiple print, online, and mobile platforms. Award-winning journalists and innovative product development teams bring engaging content to millions of people every week whenever and wherever they want it. This exceptional content, reach and scope offers advertisers and marketers compelling solutions to effectively reach target audiences. For more information, visit chơi casino trực tuyến www.entwicklungs-raum.com.

About PR?HBTD
The PR?HBTD mission is to lead cannabis from the black market to the supermarket.
The company has built a first-of-its-kind cannabis ecosystem that includes a brand creation, product development and marketing platform complemented by an original award-winning content studio and lifestyle destination website that sees more than 2 million unique visitors each month. Additionally, PR?HBTD created the first and largest multi-platform video distribution network in the cannabis industry, reaching an available audience of 100+ million people.

PR?HBTD is recognized as the exclusive global cannabis partner of Advertising Week, Entrepreneur Magazine and Postmedia. The company is venture backed with $12 Million in funding and has offices in Los Angeles, New York, Toronto, and Vancouver. Learn more at www.prohbtd.com?and www.prohbtdmedia.com.

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Media Contacts

Postmedia
Phyllise Gelfand
Vice President, Communications
Postmedia
(416) 442-2936
pgelfand@ chơi casino trực tuyến www.entwicklungs-raum.com

PR?HBTD
Zac Rivera
+1 (347) 251-1662
zac@zacrivera.com

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Postmedia Announces Director Appointment- www.entwicklungs-raum.com /7e6/2018/10/25/postmedia-announces-director-appointment/ Thu, 25 Oct 2018 17:03:34 +0000 /7e6/?p=5145 October 25, 2018 (TORONTO) – Postmedia Network Canada Corp. today announced the appointment of John Bode to the boards of both Postmedia Network Canada Corp. and its subsidiary Postmedia Network Inc. (referred to collectively as “Postmedia”).

“We welcome Mr. Bode to Postmedia’s boards. John’s extensive expertise in industry transformation makes him a complementary and welcome addition to our boards,” said Paul Godfrey, Executive Chairman and Chief Executive Officer, Postmedia.

Mr. Bode is currently Chief Operating Officer at ReaderLink Distribution Services. Previously, Mr. Bode owned and operated a strategic consultancy practice focused on working with companies, primarily legacy print media companies, undertaking major transformation initiatives and transactions. Prior to his consultancy practice, Mr. Bode was Chief Financial officer at Tribune Publishing.

About Postmedia Network Canada Corp.

Postmedia Network Canada Corp. (TSX:PNC.A, PNC.B) is the holding company that owns Postmedia Network Inc., a Canadian newsmedia company representing more than 140 brands across multiple print, online, and mobile platforms. Award-winning journalists and innovative product development teams bring engaging content to millions of people every week whenever and wherever they want it. This exceptional content, reach and scope offers advertisers and marketers compelling solutions to effectively reach target audiences. For more information, visit chơi casino trực tuyến www.entwicklungs-raum.com.

For more information:

Media Contact
Phyllise Gelfand
Vice President, Communications
(416) 442-2936
pgelfand@ chơi casino trực tuyến www.entwicklungs-raum.com

?Investor Contact
Brian Bidulka
Executive Vice President and Chief Financial Officer
(416) 383-2325
bbidulka@ chơi casino trực tuyến www.entwicklungs-raum.com

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Postmedia Reports Fourth Quarter Results- www.entwicklungs-raum.com /7e6/2018/10/25/postmedia-reports-fourth-quarter-results-4/ Thu, 25 Oct 2018 17:00:37 +0000 /7e6/?p=5143 October 25, 2018 (TORONTO) – Postmedia Network Canada Corp. (“Postmedia” or the “Company”) today released financial information for the three months and year ended August 31, 2018.

chơi casino trực tuyếnManagement’s Discussion and Analysis

Consolidated Financial Statements

Investor and Analyst Conference Call – Slide Presentation

Fourth Quarter Operating Results

Revenue for the quarter was $158.7 million as compared to $176.8 million in the same period in the prior year, a decrease of $18.1 million or 10.3%. The revenue decline was primarily due to decreases in print advertising revenue of $14.1 million or 17.0% and print circulation revenue of $5.7 million or 9.6%. Digital revenue increased by $2.5 million or 9.7% in the quarter with digital advertising revenue up 13.2%.

Notably, excluding the impact of the publications acquired and sold in the Company’s first quarter, revenue for the quarter decreased 7.2% relative to the same period in the prior year including decreases in print advertising revenue of 14.2%, print circulation revenue of 6.4% and an increase in digital revenue of 13.5% which includes an increase in digital advertising revenue of 17.9%.

”We are pleased to report continued traction from our strategy delivering the seventh consecutive quarter of double-digit digital advertising revenue – reaching $100 million in fiscal 2018,” said Paul Godfrey, Executive Chairman and Chief Executive Officer, Postmedia. “And as of this week, we will have redeemed an additional $8.7 million in first-lien notes bringing the total of first-lien debt repayment to near $100 million since our recapitalization in October 2016.”

Total operating expenses excluding depreciation, amortization, impairment and restructuring decreased $10.7 million or 6.5% for the quarter, relative to the same period in the prior year. The decrease was as a result of various cost reduction initiatives.

Operating income before depreciation, amortization, impairment and restructuring of $4.9 million in the quarter represents a decrease of $7.5 million relative to the same period in the prior year. The decrease is due to decreases in print advertising and circulation revenues only partially offset by increased digital revenue and operating expense decreases.

Net loss in the quarter ended August 31, 2018 was $22.8 million, as compared to net earnings of $40.3 million in the same period in the prior year. The change was primarily the result of a decrease in operating income before depreciation, amortization, impairment and restructuring and an increase in restructuring expense as compared to the same period in the prior year as well as a gain on the sale of Infomart in Q4 of fiscal 2018.

Full Year Operating Results

Revenue for the year ended August 31, 2018 was $676.3 million as compared to $754.3 million in the same period in the prior year, a decrease of $78.0 million or 10.3%. The revenue decline was primarily due to decreases in print advertising revenue of $65.0 million or 17.4% and print circulation revenue of $18.6 million or 7.8%. Digital revenue increased by $11.0 million or 10.4% year to date with digital advertising revenue up 13.1%.

Notably, excluding the impact of the publications acquired and sold in the Company’s first quarter, revenue for the year decreased 8.2% relative to the prior year including decreases in print advertising revenue of 15.6%, print circulation revenue of 5.3% and an increase in digital revenue of 13.9% which includes an increase in digital advertising revenue of 17.3%.

Total operating expenses excluding depreciation, amortization, impairment and restructuring decreased $88.8 million or 12.7% for the year ended August 31, 2018, relative to the prior year. The decrease was as a result of cost reduction initiatives as well as a compensation expense recovery of $19.9 million related to the Company’s Ontario Interactive Digital Media Tax Credit (“OIDMTC”) claim. Excluding the recovery related to the OIDMTC claim, total operating expenses excluding depreciation, amortization, impairment and restructuring decreased $68.9 million or 9.8% for the year ended August 31, 2018, relative to the prior year.

Operating income before depreciation, amortization, impairment and restructuring of $65.4 million in year ended August 31, 2018 represents an increase of $10.8 million relative to the same period in the prior year. The increase is primarily due to the recovery related to the OIDMTC claim as well as further operating expense decreases and increases in digital revenue being partially offset by decreases in print advertising and print circulation revenues.

Net loss for the year ended August 31, 2018 was $33.9 million, as compared to net earnings of $44.8 million in the prior year. The change was primarily as a result of a gain on debt settlement and the sale of Infomart in the year ended August 31, 2017 as well as decreases in impairment and restructuring expenses.

Business Transformation Initiatives

In June 2018 the Company began implementation of a cost saving initiative aimed at further reducing compensation expenses by approximately 10% by the end of the fiscal year through a combination of voluntary and involuntary headcount reductions. The initial target has been met – savings from this program have been identified and substantially completed with the balance to be complete by the end of first quarter of fiscal 2019. A one-time charge of $13 million related to the program is reflected in restructuring and other items expense in the fourth quarter of fiscal 2018.

During the three months ended August 31, 2018, the Company implemented initiatives – including compensation expense reductions, real estate rationalization, production efficiencies and other transformation programs – which are expected to result in approximately $21 million of net annualized cost.

The Company will continue to identify and undertake ongoing cost reduction initiatives in an effort to address revenue declination in the legacy print business.

Debt Repayment

Subsequent to August 31, 2018, the Company gave notice to its first-lien noteholders of its intention to redeem first-lien debt on October 26, 2018, as required pursuant to the annual excess cash flow covenant. After this redemption of $8.7 million the Company will have $125.6 million of first-lien debt outstanding of the original $225.0 million that was issued in October 2016.

Additional Information

Additional information, including financial statements and management’s discussion and analysis can be found on the Company’s website at www.postmedia.com/investors/financial-reports or on SEDAR at www.sedar.com.

Note: All dollar amounts are expressed in Canadian dollars unless otherwise specified.

About Postmedia Network Canada Corp.

Postmedia Network Canada Corp. (TSX:PNC.A, PNC.B) is the holding company that owns Postmedia Network Inc., a Canadian newsmedia company representing more than 140 brands across multiple print, online, and mobile platforms. Award-winning journalists and innovative product development teams bring engaging content to millions of people every week whenever and wherever they want it. This exceptional content, reach and scope offers advertisers and marketers compelling solutions to effectively reach target audiences. For more information, visit chơi casino trực tuyến www.entwicklungs-raum.com.

Forward-Looking Information

This news release may include information that is “forward-looking information” under applicable Canadian securities laws. The Company has tried, where possible, to identify such information and statements by using words such as “believe,” “expect,” “intend,” “estimate,” “anticipate,” “may,” “will,” “could,” “would,” “should” and similar expressions and derivations thereof in connection with any discussion of future events, trends or prospects or future operating or financial performance. Forward-looking statements in this news release include statements with respect to the implementation and results of the Company’s transformation initiatives, the realization of anticipated cost savings and the identification and undertaking of ongoing cost savings initiatives. By their nature, forward-looking information and statements involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future. These risks and uncertainties include, among others: competition from digital and other forms of media; the effect of economic conditions on advertising revenue; the ability of the Company to build out its digital media and online businesses; the failure to maintain current print and online newspaper readership and circulation levels; the realization of anticipated cost savings; possible damage to the reputation of the Company’s brands or trademarks; possible labour disruptions; possible environmental liabilities, litigation and pension plan obligations; fluctuations in foreign exchange rates and the prices of newsprint and other commodities. For a complete list of our risk factors please refer to the section entitled “Risk Factors” contained in our annual management’s discussion and analysis for the years ended August 31, 2018 and 2017. Although the Company bases such information and statements on assumptions believed to be reasonable when made, they are not guarantees of future performance and actual results of operations, financial condition and liquidity, and developments in the industry in which the Company operates, may differ materially from any such information and statements in this press release. Given these risks and uncertainties, undue reliance should not be placed on any forward-looking information or forward-looking statements, which speak only as of the date of such information or statements. Other than as required by law, the Company does not undertake, and specifically declines, any obligation to update such information or statements or to publicly announce the results of any revisions to any such information or statements.

 

For more information:

Media Contact
Phyllise Gelfand
Vice President, Communications
(416) 442-2936
pgelfand@ chơi casino trực tuyến www.entwicklungs-raum.com

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Investor Contact
Brian Bidulka
Executive Vice President and Chief Financial Officer
(416) 383-2325
bbidulka@ chơi casino trực tuyến www.entwicklungs-raum.com

Consolidated Statements of Operations

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Postmedia Launches Cannabis Post Newsletter- www.entwicklungs-raum.com /7e6/2018/10/09/postmedia-launches-cannabis-post-newsletter/ Tue, 09 Oct 2018 13:27:18 +0000 /7e6/?p=5134 October 9, 2018 (Toronto, ON) – Postmedia Network Inc. (“Postmedia”) today announced the launch of the premier issue of the free Cannabis Post newsletter, a co-creation of Financial Post and TheGrowthOp.com.

“The cannabis marketplace is changing every day and industry watchers want reliable, insightful and expert perspectives,” said Anne Marie Owens, Editor-in-Chief of the National Post. “Along with our extensive cannabis-focused digital and print offerings, the Cannabis Post weekly newsletter delivers a sharp, accessible look at what’s happening in this dynamic landscape.”

Following the successful launch of Postmedia’s cannabis-focused website TheGrowthOp.com in June, website visitors eagerly signed up for more industry-related information delivered directly to them. Powered by content from journalists across the Postmedia network, the premier issue of the Cannabis Post will be delivered, free of charge, directly to Postmedia’s community of industry followers.

The Cannabis Post newsletter is a weekly exploration of what industry insiders will be talking about – cutting through the noise to highlight the news, events and issues that will have the greatest impact on the industry in the week ahead. Weekly updates include comprehensive coverage and analysis of business strategies, finance, regulatory and investment areas of this emerging industry, along with all the major stocks – at a glance.

The initiative is being supported by an integrated ad campaign produced by Postmedia’s marketing team.

Visit http://cannabispost.financialpost.com to learn more and to sign up for the free weekly Cannabis Post newsletter.

For more information about advertising and sponsorship opportunities on Postmedia’s Cannabis verticals, visit www.thegrowthop.com/advertise.

About Postmedia Network Inc.

Postmedia Network Inc., a wholly owned subsidiary of Postmedia Network Canada Corp. (TSX:PNC.A, PNC.B), is a Canadian newsmedia company representing more than 140 brands across multiple print, online, and mobile platforms. Award-winning journalists and innovative product development teams bring engaging content to millions of people every week whenever and wherever they want it. This exceptional content, reach and scope offers advertisers and marketers compelling solutions to effectively reach target audiences. For more information, visit chơi casino trực tuyến.

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For more information:
Phyllise Gelfand
Vice President, Communications
Postmedia Network
(416) 442-2936
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