Yesterday news broke that Postmedia Network had acquired a number of print and digital properties from Sun Media for $316 million, and right away people around Canada turned to Twitter to share their commentary, here are a few that stood out:
Will @SunMedia buyout by @postmedianet mean newsroom job losses, thus less stories told abt Canada & its people? You can almost count on it. — Matthew Gray (@matthewdhgray) October 6, 2014
Competitive #journalism is officially dying. @PostmediaNews purchases @SunMedia for $316 million: https://t.co/bwUrZJfSb4 #breakingnews — Anna Brooks (@BrooksAnna) October 6, 2014
Canadian English-language media landscape is about to get a whole lot smaller. @postmedianet buys most of Sun Media: https://t.co/NKyG66QTgS — Richard Kent (@olafragnar) October 6, 2014
Based on several tweets, the general consensus seems to be that it will have a great impact on Canadian journalism in a negative way. Many are concerned that it will have create less media outlets for PR professionals to pitch their stories to, which is a valid concern as both companies have gone through several layoffs over the last five years.
What’s your take on the acquisition?