Federal cash will be on the way to Canada’s struggling media empires within the next few weeks, said Federal Heritage Minister Steven Guilbeault..It will be the second time the feds have sent corporate bailout money to the media, after a $595-million financial-assistance program 18 months ago..“That is a very long time to wait for the newspaper business when newspapers are closing almost every week,” Winnipeg Free Press publisher Bob Cox, who is also chair of the Canadian News Media Association, an industry lobby group, told the CBC – who themselves get about $1.3 billion a year from the feds..The COVID-19 pandemic has seen a huge drop in advertising with dozens of newspapers being shuttered, including more than 20 in the Maritimes. There have been at least six publications in Quebec that have dropped Monday-to-Friday print editions, and four have closed in Manitoba. .Cox said advertising is general down by 50 per cent..Postmedia, Canada’s largest publisher, announced Tuesday they are closing 15 community newspaper in Ontario and Manitoba..In a note to staff, CEO Andrew MacLeod said: “While we are grateful for these (federal) programs, no subsidy can offset the huge declines in revenue our industry is experiencing.”.MacLeod also announced wage rollbacks effective May 4 – 30 per cent for him, all the way down to 5 per cent for people making over $60,000..In addition, 50 people in the sales and sales operation teams have temporarily lost their jobs..Quebecor is looking at laying off 10 per cent of staff.. Trudeau on WE scandal: Case closed .“My estimate for industry losses related to COVID in 2020 is at least $500 million,” Cox told CBC..“We don’t really want temporary government handouts. That is not the best route..“There is demand for what we do, and there are a lot of people who appreciate what we do as a public service in the public interest..“And I think that should be proof enough that we are deserving of some government attention.”.Dave Naylor is the News Editor of the Western Standard.dnaylor@westewrnstandardonline.com.TWITTER: Twitter.com/nobby7694
Federal cash will be on the way to Canada’s struggling media empires within the next few weeks, said Federal Heritage Minister Steven Guilbeault..It will be the second time the feds have sent corporate bailout money to the media, after a $595-million financial-assistance program 18 months ago..“That is a very long time to wait for the newspaper business when newspapers are closing almost every week,” Winnipeg Free Press publisher Bob Cox, who is also chair of the Canadian News Media Association, an industry lobby group, told the CBC – who themselves get about $1.3 billion a year from the feds..The COVID-19 pandemic has seen a huge drop in advertising with dozens of newspapers being shuttered, including more than 20 in the Maritimes. There have been at least six publications in Quebec that have dropped Monday-to-Friday print editions, and four have closed in Manitoba. .Cox said advertising is general down by 50 per cent..Postmedia, Canada’s largest publisher, announced Tuesday they are closing 15 community newspaper in Ontario and Manitoba..In a note to staff, CEO Andrew MacLeod said: “While we are grateful for these (federal) programs, no subsidy can offset the huge declines in revenue our industry is experiencing.”.MacLeod also announced wage rollbacks effective May 4 – 30 per cent for him, all the way down to 5 per cent for people making over $60,000..In addition, 50 people in the sales and sales operation teams have temporarily lost their jobs..Quebecor is looking at laying off 10 per cent of staff.. Trudeau on WE scandal: Case closed .“My estimate for industry losses related to COVID in 2020 is at least $500 million,” Cox told CBC..“We don’t really want temporary government handouts. That is not the best route..“There is demand for what we do, and there are a lot of people who appreciate what we do as a public service in the public interest..“And I think that should be proof enough that we are deserving of some government attention.”.Dave Naylor is the News Editor of the Western Standard.dnaylor@westewrnstandardonline.com.TWITTER: Twitter.com/nobby7694
