Postmedia’s $1-million bid to acquire Atlantic Canada’s largest newspaper chain will not be held up by the main union that represents workers at SaltWire Network Inc. and The Halifax Herald Ltd.
A lawyer representing the court-appointed monitor overseeing insolvency proceedings for SaltWire and the The Halifax Herald confirmed that the Canadian arm of the Communications Workers of America has agreed to certain conditions demanded last week by Toronto-based Postmedia.
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Speaking outside a courtroom, George Benchetrit confirmed the union has agreed to alter some union contracts and exclude some workers from the union by eliminating successor rights protected by provincial labour legislation.
During the hearing this morning in Halifax, Nova Scotia Supreme Court Justice John Keith was also told that the companies’ pension plan would be wound up, a move that will affect 426 people.
The pending sale to Postmedia still has to be approved by Keith for the deal to go ahead.
SaltWire and The Herald publish newspapers and online content in Nova Scotia, P.E.I. and Newfoundland and Labrador.
This report by The Canadian Press was first published Aug. 8, 2024.
© 2024 The Canadian Press
