91Ô­´´

Skip to content
Join our Newsletter

Black Press closes sale of company; emerges from creditor protection

SURREY, B.C. — Black Press Ltd., the owner of dozens of community newspapers across Western Canada, says it has emerged from creditor protection following the restructuring and sale of the company. The Surrey, B.C.
20240325170340-cf7ac216569c5e7666f0d32007a98bcf940d0881f6d3cac83ed316d1ca9fa095
The Black Press Ltd. logo is shown in this handout image. Black Press Ltd., the owner of dozens of community newspapers across Western Canada, says it has emerged from creditor protection following the restructuring and sale of the company. THE CANADIAN PRESS/HO

SURREY, B.C. — Black Press Ltd., the owner of dozens of community newspapers across Western Canada, says it has emerged from creditor protection following the restructuring and sale of the company.

The Surrey, B.C.-based publisher announced in January it had entered creditor protection under the Companies' Creditors Arrangement Act.

On Monday it said it has closed its previously announced sale of the company to 91Ô­´´ institutional investors Canso Investment Counsel Ltd. and Deans Knight Capital Management Ltd. as well as Carpenter Media Group.

Black Press says it is now on solid and sustainable financial footing and will be able to continue to publish impactful local journalism and advertising.

Black Press publishes 150 daily and weekly newspapers, magazines and websites across Canada and the U.S. and employs approximately 1,200 people.

Under the terms of the sale, Black Press will remain 91Ô­´´-owned.

This report by The 91Ô­´´ Press was first published March 25, 2024.

Companies in this story: (TSX:TKTK)

The 91Ô­´´ Press