Saturday, 1 May 2010

Buildings 4 Sale

The Great Sun Media Real Estate Sale continues with the Peterborough Examiner building up for grabs, says a TSF tipster.

"In further Sun Media cuts, the Peterborough Examiner building went up for sale this week," says the tipster. "Looking for a smaller building for the third of the staff that are left."

Down Niagara way, more sales, says another TSF tipster.

"FYI, the Niagara Falls Review building has a buyer interested, but no offer yet; the Review's Fort Erie office has been sold and cleared out."

The tipster said Review publisher David Martineau, liked and respected by staff, likely "felt the need to jump ship before the ship sinks."

He's going into the service station business, while other Review staffers who have been laid off or quit have left media for retail work, call centres, tourism etc.

That is where Quebecor has taken newspapers - to the diving board.

With more to come once the cash flow from the sale of buildings across the chain ebbs and more employee cuts are needed to feed the insatiable corporate bottom line.

Sad times for readers and their communities and for journalists, especially young men and women looking forward to lengthy careers in media.

1 comment:

  1. Don't you think this is PKP's plan? He doesn't want to lay off staff and have to pay them a large severance, rather he prefers to make life as miserable as possible, so staff members quit on their own...pile on more work, sell the building and squish everyone in, take away sick day pay, etc. PKP wants all buildings gone, no overhead, one sales person working from home and one reporter working from home.