The two media giants have entered into non-binding discussions on options for combining operational assets, according to company officials.From our newsroom to your inbox at noon, the latest headlines, stories, opinion and photos from the Toronto Sun.By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc. You may unsubscribe any time by clicking on the unsubscribe link at the bottom of our emails or any newsletter. Postmedia Network Inc.
The merged company, which would be jointly owned and jointly controlled by Nordstar and existing Postmedia shareholders, has not yet been named. Each side of the transaction would have a 50% voting interest. Postmedia would have a 56% economic interest in the new corporate entity and Nordstar the remaining 44% economic interest.
The two companies’ top executives would remain in positions of authority in the new merged company: Jordan Bitove, publisher of theand owner of Nordstar, would be chairman and Andrew MacLeod, chief executive of Postmedia, would be CEO.
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