Local group purchases Winnipeg Sun

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A group of local investors led by former Winnipeg Sun publisher and CEO Kevin Klein has purchased the Winnipeg Sun from Postmedia Network Inc.

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The purchase, announced Monday, also includes The Graphic Leader in Portage la Prairie and the Kenora Miner & News in Kenora, Ont.

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“(This is) something that we have been in discussions with for a couple of months now,” said Klein, President and CEO of the Klein Group who has had a regular column in the paper over the last few months. “We’re very excited about the opportunity. It’s a group of investors all from Manitoba who are all concerned and fans of local journalism and the importance of it. They understand why it’s necessary and they want to see local journalism thrive in Manitoba and I think we’re off to a good start with the group and with the history of the Winnipeg Sun, Portage and Kenora.

“We’re very excited.”

The deal is expected to close on June 1.

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“We are pleased to have reached an agreement with a local group that will continue Postmedia’s long tradition of providing trusted and valuable journalism in these important markets,” said Andrew MacLeod, President and CEO of Postmedia in a press release. “Our teams in Winnipeg, Portage and Kenora produce quality work that is critically important to their communities, and we’re thrilled that will continue under the new ownership group.”

Included in the transaction is Postmedia’s Winnipeg commercial print division, all associated digital properties, contracts and other related parts of the businesses.

Financial terms of the agreement were not immediately available.

“In an age where information is abundant and easily accessible, the role of local journalism is more crucial today than ever before,” said Klein. “We are honoured to take ownership of these local newspapers and are dedicated to preserving their legacy of providing trusted, community-focused news. Our continued relationship with Postmedia will ensure that our readers benefit from both local insights and national perspectives, reaffirming our commitment to delivering comprehensive and relevant news coverage.”

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Postmedia says employees at each of the newspapers are expected to continue in their current roles, with no job losses anticipated. Non-unionized employees will be offered their same job with the Klein Group, while unionized employees will retain their current terms, Postmedia said.

“There’s a lot of opportunity to meet with staff since the sale has closed and share ideas and talk about if change is necessary and what change that is,” said Klein. “We’re looking at this as an exciting time. We’re not focused in on making drastic changes and such and we want to work with the staff and make sure we’re putting out a product that people want and will trust and has a strong local presence.”

“It’s sad to see that in this day and age where journalism is so important to democracy that the uncertainty that our members are feeling over there is the direction of the paper,” said Unifor Local 191 local representative John Ridd, which represents 37 members at the Winnipeg Sun in the newsroom, advertising, press and bindery departments.

Winnipeg Sun has been in business since 1980 and was acquired by Postmedia in 2015.

gdawkins@postmedia.com

X: @SunGlenDawkins

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