Postmedia Network

Postmedia Network Canada Corp. (also known as Postmedia Network, Postmedia News or Postmedia) is a Canadian media conglomerate consisting of the publishing properties of the former Canwest, with primary operations in newspaper publishing, news gathering and Internet operations. It is best known for being the owner of the National Post and the Financial Post. The company is headquartered at Postmedia Place on Bloor Street in Toronto. The company's strategy has seen its publications invest greater resources in digital news gathering and distribution, including expanded websites and digital news apps for smartphones and tablets. This began with a revamp and redesign of the Ottawa Citizen, which debuted in 2014. Postmedia is currently 66% owned by American media conglomerate Chatham Asset Management. History The ownership group was assembled by National Post CEO Paul Godfrey in 2010 to bid for the chain of newspapers being sold by the financially troubled Asper family's Canwest (the company's broadcasting assets were sold separately to Shaw Communications). Godfrey secured financial backing from a U.S. private equity firm, the Manhattan-based hedge fund GoldenTree Asset Management—which owns 35 per cent—as well as IJNR Investment Trust, Nyppex and other investors. The group completed a $1.1 billion transaction to acquire the chain from Canwest on July 13, 2010.