By: Mark Fitzgerald
Canwest Limited Partnership LLC never exactly screamed “newspaper company,” but when the sale closes of the publishing group that includes the National Post, Ottawa Citizen and Vancouver Sun, it will have a name even further removed from a newspaper reference — Postmedia Network Inc.
The name continues a trend that has seen several newspaper-based association take the “paper” out of their names. And the new owners of Philadelphia Newspapers say the publisher of the Philadelphia Inquirer and Philadelphia Daily News will be known as Philadelphia Media Network when its bankruptcy sale is concluded.
Paul Godfrey, the Canadian newspaper veteran heading the group buying the Canwest papers, said the name “reflects where we have been and where we are going” with the company.
“From the earliest days of information delivery via post, to the current online world of posting news and information as it happens and looking ahead to the continuous evolution of a post-media universe, our new name reflects both the strong legacy and the exciting future of media as we prepare to emerge as a new Canadian business,” Godfrey said in an announcement.
The new owners are hoping to conclude the sale by July 14, and quickly go public. Canwest is being sold for C$1.1 billion, including C$950 million in cash which will fully pay off Canwest’s bank lenders, who are owed C$925 million.