Postmedia Network today announced it is buying 175 English language newspapers, specialty publications and associated digital properties of Sun Media Inc. including its flagship, The Toronto Sun and sister papers in Ottawa, Winnipeg, Calgary and Edmonton from Quebecor Media Inc.
The deal also includes the London Free Press and the free 24 Hours dailies in Toronto and Vancouver. Postmedia will pay $316 million in the deal, which includes real estate holdings worth approximately $50-60 million. The deal is subject to
regulatory approval, including from the Competition Bureau. That is expected to take several months. The deal excludes Quebecor holdings in Quebec.