Metroland Media Group has announced plans to end the print editions of its community newspapers and exit the flyer business, as it seeks protection under the Bankruptcy and Insolvency Act to set up a restructuring plan.
This decision will result in the loss of 605 jobs, or approximately 60% of the total workforce.
Metroland says the move is the result of unsustainable financial losses resulting from changing consumer and advertiser preferences.
As part of the plan, Metroland’s community publications will move to a digital-only model.
In the meantime, the company’s six daily newspapers, including Hamilton SpectatorTHE Peterborough ExaminerTHE St. Catharines StandardTHE Niagara Falls ReviewTHE Welland Tribune and the Waterloo Region Recordwill continue to appear in print and online.
Metroland is owned by NordStar Capital, which also owns the daily newspaper Toronto Star. THE Star is not part of the restructuring.
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