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Boynton said in a statement. A statement from Metroland Media, a division of Torstar, said that closing the papers is "the only realistic option" in light of falling advertising revenue. Postmedia said it was too early to estimate its cost savings. Community newspapers historically were less reliant on national advertising revenue, which was most quickly affected by the transition to digital — but local ad revenues have begun to slide as well, affecting local outlets.
Many of the same trends that affect large dailies also affect smaller community outlets, especially because chain publishers own two-thirds of community papers, according to the Public Policy Forum. In many cases, those community papers that do remain are functioning with extremely small staff. The closings will provide a renewed urgency for the union's lobbying to the federal government to ask for more help for the industry, he added.
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The companies did not have to notify the Competition Bureau of Monday's transaction ahead of time, because it did not meet the transaction-size notification threshold. However, in an e-mail on Monday afternoon, the Competition Bureau confirmed it would undertake a review of the transaction. Under the Competition Act, the Bureau has one year after a transaction to bring an application to the Competition Tribunal to challenge it. Marys Journal-Argus and St.
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