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CEO Andrew Mule said the decision was made after the company abruptly suspended operations at its more than 30 hyperlocal publications, including the Journal Métro.
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On Sunday, Metro Media CEO Andrew Mule said the impending bankruptcy marks a sad epilogue to his 28 months at the helm
Montreal will deliver lump sums of $85,000 to small newspapers in an apparent effort to energize an industry hit hard by the effects of digitization and distribution costs. “Aware of the major challenges facing the industry in a context where a review of its business models is necessary, the city of Montreal will invest $2 million to assist local print newspapers in this necessary transition,” reads a release to media.
Montreal Mayor Valerie Plante announced on Monday that as of May 2023, only those who request advertisements or flyers to be delivered to their homes will receive them in their mailboxes.