Postmedia Network Canada Corp. owner of Postmedia Network Inc. today announced a transaction with Metroland Media Group and Free Daily News Group Inc., both subsidiaries of Torstar Corporation, to acquire 22 of Torstar’s community newspaper properties and 2 free commuter daily newspapers and to sell 15 of Postmedia’s community newspaper properties and 2 free commuter daily newspapers to Torstar. This is effectively a non-cash transaction as the properties have approximately similar fair values.
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