Metro Media CEO Andrew Mule said its bankruptcy “turns an important page in the history of the media in Quebec.”.“The Journal Metro as you knew it no longer exists,” tweeted Mule on Sunday. .“The decision to proceed with the voluntary transfer of Metro Media's assets has been ratified.”.Metro Media confirmed on Sunday this bankruptcy will end its coverage of local governments in parts of Quebec's largest cities. .This decision was made after it suspended operations at its more than 30 local publications in August, which included Journal Metro and 16 print weeklies. .It has about 70 employees, including 30 whose temporary layoffs will become permanent on top of earlier rounds since last winter. .Mule went on to say it is the end of an era and a sad ending to an amazing human and professional adventure. When he thinks of his team and readers, he said he feels sadness, bitterness and regrets. .For more than five years, he said he put his heart, energy and passion into Metro Media. Despite a complex legacy, structural difficulties, unexpected obstacles and the current challenges of the industry, he said it was poised for success. .It had a successful digital transition, more readers and a project to turn it into an information collective on the table. .But he said now is no longer the time to look back and blame people, adding he has his share of responsibility for what is happening and owns up to it. .What saddens him the most since the announcement of the suspension of Metro’s activities is the real debate has been forgotten. It has talked too much about dividends, the City of Montreal, and Publisac and has forgotten the survivability and sustainability of local information is essential. .He acknowledged people who have the slightest knowledge of how a company works and the constraints of a shareholder base can understand the decisions taken or the inability to prevent them. That is another debate. .Mule concluded by saying the most important part is “the tremendous surge of solidarity felt around Metro does not turn into resignation or indifference.” Not a single day goes by without a person talking to him about the importance of local media and its fundamental role in the vitality of democracy. .“It is therefore time to have a positive and peaceful debate and to refocus it on the essential: the future of local media,” he said. .Toronto Star publisher Nordstar Capital LP put Metroland Media Group into bankruptcy and fired 605 workers — 60% of its workforce — without severance on September 15. .READ MORE: TorStar puts regional newspaper division into bankruptcy; eliminates 605 jobs.Nordstar shuttered its flyer distribution network and will convert 70 publications into online versions. It will continue to publish print versions of six regional dailies: the Hamilton Spectator, Peterborough Examiner, St. Catharines Standard, Niagara Falls Review, Welland Tribune, and Waterloo Region Record..The Toronto Star is not covered under the restructuring.
Metro Media CEO Andrew Mule said its bankruptcy “turns an important page in the history of the media in Quebec.”.“The Journal Metro as you knew it no longer exists,” tweeted Mule on Sunday. .“The decision to proceed with the voluntary transfer of Metro Media's assets has been ratified.”.Metro Media confirmed on Sunday this bankruptcy will end its coverage of local governments in parts of Quebec's largest cities. .This decision was made after it suspended operations at its more than 30 local publications in August, which included Journal Metro and 16 print weeklies. .It has about 70 employees, including 30 whose temporary layoffs will become permanent on top of earlier rounds since last winter. .Mule went on to say it is the end of an era and a sad ending to an amazing human and professional adventure. When he thinks of his team and readers, he said he feels sadness, bitterness and regrets. .For more than five years, he said he put his heart, energy and passion into Metro Media. Despite a complex legacy, structural difficulties, unexpected obstacles and the current challenges of the industry, he said it was poised for success. .It had a successful digital transition, more readers and a project to turn it into an information collective on the table. .But he said now is no longer the time to look back and blame people, adding he has his share of responsibility for what is happening and owns up to it. .What saddens him the most since the announcement of the suspension of Metro’s activities is the real debate has been forgotten. It has talked too much about dividends, the City of Montreal, and Publisac and has forgotten the survivability and sustainability of local information is essential. .He acknowledged people who have the slightest knowledge of how a company works and the constraints of a shareholder base can understand the decisions taken or the inability to prevent them. That is another debate. .Mule concluded by saying the most important part is “the tremendous surge of solidarity felt around Metro does not turn into resignation or indifference.” Not a single day goes by without a person talking to him about the importance of local media and its fundamental role in the vitality of democracy. .“It is therefore time to have a positive and peaceful debate and to refocus it on the essential: the future of local media,” he said. .Toronto Star publisher Nordstar Capital LP put Metroland Media Group into bankruptcy and fired 605 workers — 60% of its workforce — without severance on September 15. .READ MORE: TorStar puts regional newspaper division into bankruptcy; eliminates 605 jobs.Nordstar shuttered its flyer distribution network and will convert 70 publications into online versions. It will continue to publish print versions of six regional dailies: the Hamilton Spectator, Peterborough Examiner, St. Catharines Standard, Niagara Falls Review, Welland Tribune, and Waterloo Region Record..The Toronto Star is not covered under the restructuring.
