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The recent decision by SaltWire Network Inc., Atlantic Canada's largest newspaper company, to seek protection from its creditors is another sign of the decline of the business and the growing threat to local journalism, experts said Tuesday.
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HALIFAX - The recent decision by SaltWire Network Inc., Atlantic Canada's largest newspaper company, to seek protection from its creditors is another sign of the decline of the business and the growing threat to local journalism, experts said Tuesday.
On Monday, a private equity firm that has lent money to SaltWire filed documents to initiate insolvency proceedings against the Halifax-based company.
In court documents, the Fiera Private Debt Fund said SaltWire and The Halifax Herald Ltd. together owe it $32.7 million, plus almost $600,000 of accrued and outstanding interest