Guelph Mercury, one of Canada's oldest newspapers, ends print editions

TORONTO -- One of the country's oldest dailies, the Guelph Mercury, will cease publishing its print editions this week, the latest casualty of the deep malaise in Canada's newspaper industry, its publisher announced Monday.

See Full Article

The closure will throw 23 full-time and three part-time employees out of work, including eight in the newsroom. The southwestern Ontario newspaper, which dates to 1867, will print its last edition on Friday.

Publisher Donna Luelo expressed regret at the decision, but said shuttering the print edition was the only viable option. A regional digital team would continue to put out a web version.

"The steep decline in classified and national advertising revenues has made it difficult for the printed copy of the daily newspaper to remain profitable," Luelo said in a statement.

"There is nothing the talented team at the Guelph Mercury could have done differently to affect the outcome."

Across Canada and North America, newspapers have struggled to stay, or become, profitable as free websites have eaten into traditional classified and advertising revenues, while readers have moved to online news sites.

The Mercury's circulation in the city of about 115,000 people had fallen to below 9,000 home-delivery subscribers, Leulo said.

In an email, Luelo said the decision would have no impact on the nearby Waterloo Region Record daily, where she's also publisher.

Montreal's La Presse, also one of the country's oldest and largest newspapers, announced the end of its print product last fall in favour of a tablet edition launched in 2013 at a cost of $40 million.

Just last week, money-losing Postmedia announced it was cutting 90 jobs as it merged newsrooms in Vancouver, Calgary, Edmonton and Ottawa. Also, the 141-year-old Nanaimo Daily News on Vancouver Island announced it would stop publishing.

Black Press, which had bought the paper from Glacier Media in December 2014, said it was it had been unable to develop a sustainable business model for the daily.

The Mercury, owned by Torstar Corporation's Metroland Media Group, was owned by Thomson Newspaper Corp. from 1947 until 1995, when Hollinger Inc. took over. Ownership moved in 1998 to Sun Media before Torstar Corporation took over that same year.

"This is a sad day for Guelph, not just the wonderful people who work here," Mercury sports reporter Tony Saxon said in a tweet.

The Mercury said its real estate publication, called Guelph and District Homes, and its lifestyle magazine Guelph Life would continue as a printed product.

Metroland's president could not be reached for comment.

However, the company said it would deliver news and "unique local content" through its twice-weekly Guelph Tribune.

In a related development Monday, Rogers said it would be cutting 200 jobs in TV, radio, publishing and administration -- about four per cent of its workforce.



Advertisements

Latest Economic News

  • Why Trump will find it hard to make American economy greater

    Economic CTV News
    WASHINGTON -- President Donald Trump's economic plans are nothing if not ambitious: Annual growth of 4 per cent -- or more. A diminished trade gap. The creation of 25 million jobs over 10 years, including the return of good-paying factory positions. Source
  • Lawsuit: Donald Trump businesses violate U.S. Constitution

    Economic CTV News
    NEW YORK -- A lawsuit Monday alleged that U.S. President Donald Trump is violating the Constitution by allowing his business to accept payments from foreign governments. Trump is violating the so-called emoluments clause in the Constitution that prohibits him from receiving money from diplomats for stays at his hotels or foreign governments for leases of office space in his buildings, according to the suit filed by a legal watchdog group. Source
  • Brookfield moves to simplify North American property arm

    Economic CTV News
    TORONTO -- The largest shareholder of Brookfield Canada Office Properties (TSX:BOX.UN) is offering to buy the rest of the real estate trust's equity for $30.10 cash per unit, a 14.8 per cent premium to Friday's closing price in Toronto. Source
  • Trump pledges border tax, less red tape and trade renegotiations on first weekday in office

    Economic CBC News
    The new U.S. president doubled down on some of his campaign promises on Monday, including punitive tax hikes for U.S. companies that ship jobs overseas and sharp reductions in corporate taxes, red tape and regulations. Source
  • Statistics Canada says wholesale sales gained 0.2 per cent in November

    Economic CTV News
    OTTAWA -- Statistics Canada said Monday that wholesale sales gained 0.2 per cent in November to total $56.9 billion, as a drop in the auto sector limited overall gains for the month. The second consecutive monthly increase fell short of the 0.5 per cent for the month that had been expected by economists surveyed by Thomson Reuters; however, the October figures were revised 0.2 per cent higher than previously reported. Source
  • McDonald's sales rise globally, but dip in U.S.

    Economic CTV News
    NEW YORK -- McDonald's global sales rose 2.7 per cent at established locations as growth overseas offset a drop in the U.S. The world's biggest burger chain attributed the decline at home to a tough comparison from the year-ago quarter, when it launched its all-day breakfast menu. Source
  • McDonald's sales dip in U.S., underscoring comeback challenges

    Economic CTV News
    NEW YORK -- McDonald's is trying stage a comeback, but still has plenty of work to do in its flagship U.S. market. The world's biggest burger chain said U.S. sales dipped 1.3 per cent at established locations for the final three months of 2016. Source
  • United Airlines computer glitch cancelled and delayed flights

    Economic CTV News
    CHICAGO -- United Airlines says six flights were cancelled and 200 more were delayed because of a computer problem that forced a ground stop for all domestic flights that lasted about 2 1/2 hours Sunday. Source
  • Kuwait state oil company says onshore leak contained

    Economic CTV News
    KUWAIT CITY -- Kuwait's national oil company says it has contained an oil leak at one of its southwestern oil fields. Monday's statement by the Kuwait Oil Co. did not identify the onshore oil field affected by the leak, which began Sunday. Source
  • Stockpiling only cash in TFSA may hurt investors long term: experts

    Economic CTV News
    TORONTO -- Financial planner Jason Heath's mind boggles when he thinks about the high percentage of Canadians stockpiling what he calls "dead money" into tax-free savings accounts. "There's a lot of average Canadians out there that have been led to believe that parking a few thousand dollars in a TFSA in cash, or a near-cash equivalent investment paying one per cent, is somehow a good idea," says Heath, managing director of Objective Financial Partners in Toronto. Source