Competition Bureau raids two media houses

Category : Canada News
Updated On : March 13, 2018 05:25 AM
By Indian Times Daily

Competition Bureau officials descended on the Toronto offices of Postmedia Network Canada Corp. and Torstar Corp. on Monday as part of its investigation of alleged anti-competitive conduct in their November deal to swap and close down dozens of community newspapers.

Postmedia confirms in an email that officials executed a search warrant at its offices on Monday but adds it is ``strongly of the view'' that no contravention of the Competition Act occurred in the agreement announced Nov. 27.

Separately, Torstar says the officials also visited its corporate offices in Toronto to seek more information about the deal in which 41 newspapers changed hands and 36 were closed, mainly in Ontario regions served by multiple publications, at a cost of nearly 300 jobs.

Torstar says in an email it will be voluntarily providing the bureau with additional company documents relating to the transaction.

A Competition Bureau spokesman said soon after the transaction was announced that a review would take place. Such reviews are undertaken to determine if the deal would result in a substantial lessening or prevention of competition.

Commissioner of Competition John Pecman confirmed Monday the bureau is investigating ``alleged anti-competitive conduct contrary to the conspiracy provisions'' of the Competition Act but refused further comment.

Please enter valid email!

Show Please enter password!

Forgot your password?

Please enter name!

Please enter name!

Please enter valid email!

Show At least 6 characters

Lost your password? Please enter your email address. You will receive a link to create a new password.

Please enter valid email!

Back to log-in

Close