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Local Newspapers Set to Close

Monday, 27 November 2017 at 12:49

The Stratford Gazette is one of several local papers that will be closing their doors after a deal between media giants Torstar and Post Media.

It's the end of an era for local newspapers after a deal between media giants Postmedia and Torstar. 

The deal sees both media giants swap a total of 41 newspapers, most of them will be closing which will result in at least 291 jobs lost. Locally this means the end of the St. Marys Journal-Argus, the St marys Weekender, the Stratford City Gazette and the St. Thomas Elgin Weekly News. 

In a press releases Postmedia CEO Paul Godfrey explains the transaction. 

"This transaction allows Postmedia to focus on strategic areas and core products, and allows us to continue with a suite of community-based products, in a deeply disrupted industry." 

Postmedia intends to continue operating the Exeter Times-Advocate and the Exeter Weekender and will close the remainder of the acquired properties. 

Godfrey says this was not an easy decision. 

"What makes this particularly difficult is that it means we will say goodbye to many dedicated newspaper people. However, the continuing costs of producing dozens of small community newspapers in these regions in the face of significantly declining advertising revenues means that most of these operations no longer have viable business models."

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