Nordstar-Postmedia merger would have never worked
The collapse of a merger between Toronto Star owner, Nordstar, and Postmedia was applauded by what appeared to be the consensus among journalists commenting on social media.
It would be like putting cats and dogs in the same pen.
It was on Monday that the two companies each tossed in the towel, announcing the two media rivals could not agree on the terms of the merger, heightened by the regulatory and financial uncertainty surrounding the deal.
“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,” Nordstar owner Jordan Bitove said in a press release.
Nordstar Capital owns Metroland Media, as well as the Toronto Star, while Postmedia owns the National Post, plus the Sun Media newspapers, which include the Toronto Sun and its affiliates.
Both have financial troubles, and a merger was thought by the newspapers’ executives to be the answer.
