The Vancouver Sun building in downtown Vancouver.

Postmedia plans to sell printing plants in Surrey and Calgary

The financially embattled newspaper company lost a reported $112 million in the first quarter of 2013, due to tumbling print advertising.

Newspaper group Postmedia – which publishes The Vancouver Sun and The Provinceis planning to sell two printing plants in an effort to reduce both costs and debt.

Postmedia will be looking for solutions – and buyers – for its Kennedy Heights building in Surrey, B.C. – which prints both Vancouver dailies mentioned above – as well as the Calgary Herald building in Alberta’s largest city.

Unifor local 200, formerly known as the Communications, Energy and Paperworkers Union, released a statement online on Monday.

“Union officers will be consulting with our legal counsel and meeting with members to discuss our next steps… there will be no involuntary loss of employment of any regular employee during the life of the contract as a result of (this news)…”

Earlier this year, Postmedia reportedly lost $112 million in just its first quarter, with 59 per cent of its revenue coming from print advertising.

Digital revenues have been slow – and are failing – to make up the difference in the company’s print losses. Print revenues, although falling rapidly, still amounted to $113 million in 2013’s first quarter, while digital revenues grew just $500,000 to $24 million.

Just Posted

$50,000 reward for ‘extremely violent’ South Surrey murder suspect renewed

Offer for information on Brandon Teixeira to remain in effect through April, 2020

Surrey moves to ban sleeping overnight in RVs, motorhomes on city streets

Proposal comes amid complaints about homeless people living in recreational vehicles

White Rock senior ‘just sick’ about lost rings

Wedding, engagement bands discovered missing on Oct. 7

Surrey restaurant owner who pointed handgun at staff loses court appeal

Jawahar Singh Padda tried to get his 30-month sentenced reduced

Surrey cold-case murder is Crime Stoppers’ ‘Crime of the week’

Police have yet to arrest a suspect in the April 24, 2011 murder of Devon Allaire-Bell, 19, in Newton

VIDEO: First all-female spacewalk team makes history

NASA astronauts Christina Koch and Jessica Meir did work on International Space Station’s power grid

Zantac, the over-the-counter heartburn drug, pulled in Canada, U.S.

Health Canada also investigates possible carcinogen in some ranitidine drugs

B.C. public safety minister says cannabis edibles not in stores til January

Mike Farnworth says he wants regional issues considered when it comes to licensing

Greta Thunberg calls for climate action in Alberta, but doesn’t talk oilsands

Swedish teen was met with some oil and gas industry supporters who came in a truck convoy

Scheer denies spreading ‘misinformation’ in predicting unannounced Liberal taxes

Conservative leader had claimed that a potential NDP-Liberal coalition could lead to a hike in GST

Council asks to limit cruise ship visits to Victoria harbour

Mayor says motion is not meant to curtail current visits or limit local cruise industry expansion

Chilliwack man pleads guilty in crash that killed pregnant woman

Frank Tessman charged under Motor Vehicle Act for accident that killed Kelowna school teacher

Kawhi Leonard, former Toronto Raptor, welcomed back to Vancouver at pre-season game

Fans go wild at pre-season game between L.A. Clippers and Dallas Mavericks at Rogers Arena

Greens and NDP go head to head on West Coast; Scheer takes fight to Bernier

Trudeau turns focus to key ridings outside Toronto after two days in Quebec

Most Read

l -->