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Sales and investment process started for SaltWire Network and The Halifax Herald

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Earlier this month, Nova Scotia Supreme Court Justice John Keith granted the insolvent companies protection from creditors who are owed about $90 million

A Nova Scotia judge has approved a process aimed at finding buyers or investors willing to bid on SaltWire Network Inc. and The Halifax Herald Ltd., the two companies that operate Atlantic Canada’s largest newspaper enterprise.

On Monday, Keith approved a so-called sales and investment solicitation process , which involves canvassing the market for people willing to buy or invest in some or all the deeply indebted companies’ business operations and assets.

 

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Sales and investment process started for SaltWire Network and The Halifax HeraldHALIFAX — A Nova Scotia judge has approved a process aimed at finding buyers or investors willing to bid on SaltWire Network Inc. and The Halifax Herald Ltd., the two companies that operate Atlantic Canada's largest newspaper enterprise.
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Saltwire Network faces insolvency in tough Canadian media industrySaltwire Network, Atlantic Canada's largest media group, is filing for creditor protection and is tens of millions of dollars in debt. Heidi Petracek reports on the fears for local news coverage, the Canadian media industry's unprecedented challenges, and how some outlets have been able to thrive, while others struggle.
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