Monday, November 15, 2010

Postmedia to remain private until 2011

Postmedia Network Canada Corp. will remain a private company until some time in the first half of 2011, chief executive officer Paul Godfrey said on Monday. Godfrey discussed the planned stock listing following the Toronto-based media company's release of its first set of financial results following the closure of its $1.1-billion deal to buy the newspapers formerly owned by CanWest Global Communications Corp. Revenue for the three months ended Aug. 31 totalled $241.3-million, up 1.5 per cent from CanWest's revenue of $237.7-million for the same period last year. Revenues from digital operations rose 7.4 per cent to $20.4-million. Print circulation revenue was down 1.3 per cent to $59.5-million.

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