Overstory Media Group has acquired Halifax alt weekly, The Coast. Led by Publisher Christine Oreskovich and Editor Kyle Shaw, who co-founded the paper in 1993, The Coast is also behind community events like Halifax Burger Week and Halifax Oyster Fest. Persevering as one of the last independent alt weeklies standing, prior to the pandemic, The Coast pivoted to a digital-first newsroom in early 2020 and ceased publication of its weekly print edition. In a note to readers, Oreskovich and Shaw noted the “relentless” pace of digital adaption, saying they believe being a part of Overstory’s larger community will help build up The Coast. Launched by Farhan Mohamed and Andrew Wilkinson in May of last year, Overstory’s reach remains largely focused in Western Canada, including the Vancouver Tech Journal, Capital Daily, Fraser Valley Current, The Westshore, Burnaby Beacon, Oak Bay Local, and Calgary Citizen, among other publications.
Netflix experienced a loss of 200,000 subscribers in Q1, causing its shares to trade down more than 35% and the streamer to shed more than $54 billion in market value on Wednesday. The subscriber drop stems, in part, from the streaming giant’s decision to withdraw service in Russia, accounting for the loss of 700,000 subscribers. Still, excluding Russia, it was two million paid net adds off of its guidance. Another two million subscribers are expected to fall off in Q2 as the streamer cracks down on account sharing. Netflix plans to expand a pilot program that’s been running in Latin America, allowing subscribers to extend service to another household at a discount. It’s also proposing a cheaper ad-supported tier, which has raised questions about whether such a move would cannibalize its existing subscriber base in North America.