Osprey Media

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Osprey Media L.P. was a

Canadian newspaper regional chain that published 20 daily newspapers, 34 non-daily newspapers, and a number of shopping guides and magazines in the Canadian province of Ontario.[1] Formerly an independent income trust, Osprey was taken over by Quebecor's Sun Media division in 2007. With the sale of Sun Media to Postmedia Network a decade later, many of its former newspapers owned by Osprey today are either owned by Postmedia or Torstar
.

In September 2006, the last annual release of Canadian circulation figures before the company's takeover by Quebecor, Osprey Media's dailies had average daily paid and unpaid circulation / distribution of approximately 340,000 copies, while its non-daily newspapers had average weekly paid and unpaid circulation / distribution of approximately 466,000 copies.

History

Osprey Media Group was created in 2001, when Michael Sifton, heir to the family that had once owned the

Saskatoon Star-Phoenix, purchased many of the Ontario newspapers that had been put on the market by Conrad Black's Hollinger newspaper group.[2]
As a newly incorporated media group, Osprey Media's purchase marked the first time in many years that a major newspaper sale significantly increased the diversity of newspaper ownership in Canada.

In April 2004,[3] Osprey Media Group, motivated by tax breaks,[2] became a subsidiary of Osprey Media Income Fund (OMIF),[4] a unit trust. They changed their name to Osprey Media LP in January 2006 after receiving Canada Revenue Agency approval of their reorganization plans.[5]

On May 31, 2007, it was announced that OMIF would be acquired by Quebecor Media Group for C$517 million.[1] The announcement noted that Scotia Merchant Capital and the Ontario Teachers' Pension Plan had conditionally agreed to tender units in their control which amount to over 50% of the outstanding units. According to Editor & Publisher, the sale of OMIF was at least in part motivated by the pending loss of the tax advantages which had earlier led to the creation of the unit trust.[2]

On June 27, 2007, a competing takeover offer from Black Press was also announced.[6][7] On July 6, 2007, OMIF accepted a revised offer from Quebecor of C$575.8 million.[7]

A decade after Osprey Media's demise, Sun Media was acquired by

Postmedia in 2015 after Quebecor divested of its English newspapers.[8] Postmedia re-sold many of the former Osprey newspapers to rival Torstar in 2017 in an asset swap with some newspapers closed operation.[9]

Publications

References

  1. ^ a b "Archived copy" (PDF). Archived from the original (PDF) on 2007-06-30. Retrieved 2007-06-05.{{cite web}}: CS1 maint: archived copy as title (link)
  2. ^ a b c "null". Archived from the original on 2007-09-30. Retrieved 2007-06-05.
  3. ^ "Archived copy" (PDF). Archived from the original (PDF) on 2007-06-30. Retrieved 2007-06-05.{{cite web}}: CS1 maint: archived copy as title (link)
  4. ^ "Osprey Media LP: Private Company Information - Businessweek". investing.businessweek.com. Archived from the original on July 12, 2012. Retrieved 23 April 2012.
  5. ^ "Archived copy" (PDF). Archived from the original (PDF) on 2007-06-30. Retrieved 2007-06-05.{{cite web}}: CS1 maint: archived copy as title (link)
  6. ^ reportonbusiness.com: Black Press swoops in to snatch Osprey Media
  7. ^ a b "CANOE -- CNEWS - Media News: Bidding war for Osprey may start". Archived from the original on 2007-07-08. Retrieved 2007-07-06.{{cite web}}: CS1 maint: unfit URL (link)
  8. ^ "Quebecor sells 175 Sun Media newspapers and websites to Postmedia - Business - CBC News". Cbc.ca. 2014-10-06. Retrieved 2016-12-15.
  9. ^ Kopun, Francine (November 27, 2017). "Torstar, Postmedia announce community and daily paper deal". Toronto Star. Retrieved November 27, 2017.

External links

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