Postmedia, Toronto Star owner Nordstar end their merger discussions

Postmedia signage is pictured at the head office in Toronto, on Wednesday, June 28, 2023. Postmedia Network Canada Corp. and Nordstar Capital LP, the company that owns the Toronto Star, say they have terminated discussions about a potential merger, saying they were unable to come to an agreement. THE CANADIAN PRESS/Andrew LahodynskyjNetwork Canada Corp.

“These are challenging times for media companies, but we intend to keep working hard to give Canadians the news they need to stay informed, which is essential to our communities and to the functioning of our democracy,” said Nordstar owner and Toronto Star publisher Jordan Bitove in a press release.president and CEO Andrew MacLeod said in a statement that the “need for creative solutions and foundational transformation in our industry remains.

They had said the proposed deal would help them scale up in order to respond to the “existential threat” facing the media industry.

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