Enterprise Bulletin shut down as result of newspaper swap
The Enterprise-Bulletin, published in Collingwood and distributed weekly into Creemore, has been shut down after a swap between publishing giants Torstar Corporation and Postmedia Network.
The newspaper is Collingwood’s oldest continuous business. The Enterprise-Bulletin is an amalgamation of the Enterprise, launched in 1857, and the Bulletin, first published in 1872.
As part of the non-cash transaction, Torstar acquired seven daily community newspapers, two free daily newspapers as well as seven other weekly community publications: the Bradford Times, Fort Erie Times, Innisfil Examiner, Niagara Advance, Pelham News, Inport News (Port Colborne) and the Thorold Niagara News.
The closure of the newspapers, effective Monday, affects 46 full-time and part-time employees, who will receive severance packages, and also marks the end of the Barrie Examiner.
Torstar has “sold” 22 weekly community newspapers in eastern and southern Ontario and the Metro Winnipeg and Metro Ottawa free daily publications to Postmedia, affecting the Meaford Express in this region, resulting in more job losses.
According to a media release, “The decision by Metroland Media to close the newspapers was made after a careful review of the financial performance and Metroland Media’s future projections for all the publications acquired from Postmedia. Metroland Media concluded the only realistic option was to close the affected papers due to their falling advertising revenues and Metroland’s projections of their future performance.
“The newspaper industry in Canada is facing challenging times due to declines in recent years in print advertising revenues and the fact that newspapers are now facing increased competition for digital advertising dollars from international giants such as Google and Facebook. Because of that, Metroland Media is seeking synergies and cost reductions where possible.
“By acquiring publications within or adjacent to Metroland Media’s primary areas and selling publications outside its primary areas the company will be able to place a greater focus on regions where it believes it can be more effective in serving both customers and clients. This will help allow the company to develop more digital content as well as enhance the operations of the four new daily newspapers that it will continue operating after the purchase from Postmedia.”