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Postmedia, Toronto Star owners end merger talks without deal

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Merger talks between Canadian media giants Postmedia and the company that owns the Toronto Star ended without an agreement, both sides said.

“There are so many things in flux right now, from Facebook pulling out , potentially Google as well, the ongoing challenges of the industry — it is just really difficult to pull off a complicated merger in a very uncertain environment,” MacLeod said.“We worked really hard and there was good will and good intent from both groups, but it is just too challenging and too uncertain an environment right now to make all the models work.

“By levelling the playing field with the tech giants and creating a healthy ecosystem, we can ensure that the media industry and journalism remain vibrant, diverse and resilient in Canada.” “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,” Jordan Bitove, owner of Nordstar and publisher of theBoth companies face economic hardship during increasing digitalization of news, which has meant cuts, layoffs and cost reductions.

Meta-owned Facebook and Instagram said it will stop sharing links to Canadian news in response to the federal government’s Online News Act.

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