Alison Creekside on Nostr: Not a tax-dodging scheme. Postmedia owns over 90% of Canadian dailies & weeklies and ...
Not a tax-dodging scheme.
Postmedia owns over 90% of Canadian dailies & weeklies and is itself 66% owned by Chatham Asset Management, a US media conglomerate to whom it must pay it's debt.
In 2022, Postmedia's operating income was $13M, $9.9M of which was in gov subsidies & assistance.
In spite of receiving the wage subsidy CEWS for keeping employees on staff during covid, Postmedia laid off hundreds of staff, closed newsrooms, and paid its CEOs and COOs millions in bonuses.
Postmedia owns over 90% of Canadian dailies & weeklies and is itself 66% owned by Chatham Asset Management, a US media conglomerate to whom it must pay it's debt.
In 2022, Postmedia's operating income was $13M, $9.9M of which was in gov subsidies & assistance.
In spite of receiving the wage subsidy CEWS for keeping employees on staff during covid, Postmedia laid off hundreds of staff, closed newsrooms, and paid its CEOs and COOs millions in bonuses.