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Bidders express interest in buying all or part of SaltWire newspaper business

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Chronicle Herald News

Saltwire,Saltwire Network,Canada

More than 250 prospective purchasers and potential investors were sent so-called teaser letters and non-disclosure agreements advising them of the sale process.

The Chronicle Herald sign is seen in Halifax on Thursday, April 13, 2017. A Toronto-based restructuring firm says several bidders have offered to buy all or part of SaltWire Network and The Halifax Herald, the two companies that operate Atlantic Canada's largest newspaper enterprise. THE CANADIAN PRESS/Andrew Vaughan.Several bidders have offered to buy all or part of SaltWire Network Inc. and The Halifax Herald Ltd.

The one-page report does not say how many bids were received by Thursday’s initial bidding deadline, and it doesn’t provide any details about who submitted the bids. As well, KSV said the media companies have cut some jobs and ended their contract with the international news agency Thomson Reuters. Bids have also been received for certain properties owned by SaltWire, including one building in St. John’s, N.L., two buildings in Nova Scotia — one in Yarmouth, the other in Sydney — and a printing plant in the Halifax area.Posters promoting ‘Steal From Loblaws Day’ are circulating.

 

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