Métro Media, publisher of Journal Metro and several other papers, to declare bankruptcy
Métro Media will declare bankruptcy in the coming days, permanently ending its coverage in parts of Quebec’s two largest cities.
On Sunday, CEO Andrew Mulé said on X, formerly Twitter, that the company had come to the decision after the company abruptly suspended operations of more than 30 hyperlocal publications, including Journal Métro and 16 print weeklies.
In a statement sent to employees on Aug. 11, Mulé said he had been informed that the company no longer had the liquidity to continue despite what he described as a healthy balance sheet.
On Sunday, Mulé said the company's impending bankruptcy marked a sad epilogue to his 28 months at the helm. He admitted he feels a sense of bitterness and a feeling that there remains unfinished business as local media fight for survival across the country.
The company has around 70 employees, including around thirty journalists whose temporary layoffs will become permanent, adding to previous waves of departures that have occurred since last winter.
On Friday, Metroland Media Group -- unrelated to Metro Media -- also announced it would seek protection from creditors and move to an online-only model.
The decision means large parts of Ontario are set to lose their local newspapers and more than 600 employees will lose their jobs.
-- This report by The Canadian Press was first published in French on Sept. 17, 2023
CTVNews.ca Top Stories
4th Indian national arrested, charged with murder of Hardeep Singh Nijjar
Homicide investigators in B.C. say murder charges have been laid against a fourth Indian national in connection to the killing of Sikh activist Hardeep Singh Nijjar outside a Surrey gurdwara last year.
Feds 'committed to doing more,' but minister offers no timeline for Canadian Disability Benefit boost
Amid significant criticism from advocates, Diversity, Inclusion and Persons with Disabilities Minister Kamal Khera is defending her government's long-promised, newly unveiled Canada Disability Benefit, calling the funds an "initial step," but without laying out a timeline for future expansion of the program.
RCMP boss expresses desire for new law to deal with threats against politicians
RCMP commissioner Mike Duheme says he wants the government to look at drafting a new law that would make it easier for police to pursue charges against people who threaten elected officials.
'My family doctor just fired me': Ontario patients frustrated with de-rostering
Dozens of Ontarians are expressing frustration in the province’s health-care system after their family doctors either dropped them as patients or threatened to after they sought urgent care elsewhere.
Balancing act: Canadian North’s first Inuk CEO juggles Arctic airline challenges
With carriers' flight volumes above the 60th parallel hovering below pre-pandemic levels, Canadian North’s first Inuk CEO now bears the task of balancing those financial and logistical challenges with the needs of communities for which she feels a deep affinity.
Couple randomly attacked, 1 stabbed, by group of teens in Toronto, police say
A man has been transported to hospital after police say he was stabbed in a random attack carried out by a group of teens in Toronto on Friday night.
Millions of Canadians have been exposed to potentially toxic chemicals, and they're not going anywhere
For decades, North Bay, Ontario's water supply has harboured chemicals associated with liver and developmental issues, cancer and complications with pregnancy. It's far from the only city with that problem.
'Renaissance of cartooning': Lifelong comic lover sets up Newfoundland dedicated publisher
A Newfoundlander's lifelong love of cartooning has helped forge Heavy Sweater Comics, the province's newest dedicated comic book publisher.
Biden calls Trump 'unhinged,' says 'something snapped' in former president after he lost 2020 U.S. election
U.S. President Joe Biden on Saturday called Donald Trump “clearly unhinged” and claimed that “something snapped” in the former president after he lost the 2020 election.