Postmedia to exit wire service business, strikes new deal with The Canadian Press

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Postmedia will exit the wire service business and sign back up with The Canadian Press in an attempt to save money and “refocus” the news organization’s efforts.

Postmedia left CP—then collectively owned by members—in 2007 to launch Postmedia News, which provided breaking news to the daily newspapers in the chain that include the National Post, the Vancouver Sun and The Ottawa Citizen. In this new deal, 25 of 58 jobs at Postmedia News will be cut, according to The Globe and Mail media reporter Steve Ladurantaye’s report.

Read the full story from The Globe here. An internal Postmedia memo with more information can be found here

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