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Online & Digital Media News – Postmedia to acquire Saltwire Network

Postmedia Network has entered into an agreement to acquire Atlantic Canada’s largest media purveyor, Saltwire Network and The Halifax Chronicle Herald. Currently under creditor protection, Saltwire – which publishes nearly two dozen titles, including major daily newspapers in Halifax, NS, Charlottetown, PEI, and St. John’s, NL – has been driven to insolvency by its main creditor, Fiera Private Debt Fund, with a debt load of more than $94 million. Postmedia says the acquisition aligns with its commitment to preserving local journalism. Read more here.

Narcity Media CEO Chuck Lapointe has killed a planned equity crowdfunding campaign pre-launch and refunded early investors. In a post to LinkedIn this week, Lapointe said the number of actual investors turned out to be substantially less than the 30% it gauged would come on board when it launched its community round at the end of May. While gathering more than $3.5M in expressed interest, Lapointe said most never translated to actual investors and “the amount raised would’ve not been significant enough for a meaningful return.” Lapointe wrote that his belief in “the potential of community ownership” is intact and the digital publication will “definitely try again in a year or two when our new models/brands have proven out.”

The Canada Media Fund (CMF) is renewing its Digital Creators Pilot Program (DCPP) for a second year. The program supports the growth trajectory of mid-career Canadian digital content creators making short-form video content exclusively on YouTube, Instagram, TikTok, and Facebook. Potential applicants to the program are encouraged to read the 2024-2025 DCPP Program Guidelines and contact the CMF Program Administrator with questions as they prepare their applications. Applications will be accepted, starting Sept. 3.

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