By: Editorial Staff Southam Inc., The Canadian publisher of 33 dailies, plans to invest $100 million to $130 million to create a national newspaper this fall.
It will offer Canadians "a new perspective on news issues and events," said Southam in a statement. Neither a name nor an editor was announced.
"The newspaper will provide readers with high-quality editorial and a truly national and international" outlook, said Don Babick, president and chief operating officer of Southam.
Plans call for newsstand sales coast to coast
and subscription sales beginning in nine major Canadian cities. Southam expects it will take five to seven years to turn a profit.
Leading advertising agencies have expressed support, and research has "confirmed" there is a market, Southam said. The paper will face Thomson's Globe and Mail and Sun Media Corp.'s Financial Post.
Babick, president and CEO of the new Toronto-based paper, said it may help build circulation of Southam's local papers by complementing local coverage. He said it will leverage resources from papers owned by Southam and Hollinger, which controls Southam.
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?(copyright: Editor & Publisher April 18, 1998) [Caption]
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