Rogers Media sells Canadian Business
Rogers Media has sold Canadian Business and four other magazines to St. Joseph Communications for an undisclosed amount.
Pete Evans of CBC News writes, “In a press release Wednesday, Rogers and St. Joseph Communications say Maclean’s, the English and French versions of Chatelaine, Today’s Parent, HELLO! Canada, along with digital publications FLARE and Canadian Business, have been sold for an undisclosed sum.
“‘All current Rogers Media Publishing employees will be offered employment through the deal, which is expected to close in April 2019,’ the release said.
“After buying the Maclean-Hunter media empire in 1994, Rogers Media grew quickly in the magazine world, and soon became the biggest magazine publisher in Canada by far. But in recent years Rogers has been slowly reducing its print footprint. In 2016 when it phased back publication of some titles, and stopped producing others altogether while laying off staff.
“The company has reportedly been in negotiations to get out of the magazine business entirely for the past year or so, and last fall they sold off the former print magazine and current digital portal MoneySense to fintech company Ratehub Inc.”
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