Postmedia isn’t very good at making money. Nearly every year, Postmedia announces massive losses, more layoffs and more local newsrooms closing under their supervision. What’s shocking is that Postmedia gets to act like this is business as usual while the federal government is subsidizing them through the $600 million media bailout.
Postmedia columnists love to shriek about Canada’s deficit, which is set to hit $343 billion this year. Oddly enough, they’re noticeably less vocal about their organization’s active contribution to the deficit. According to a report in the Tyee, Postmedia expected between $8 and $10 million in subsidies from the government last year.