The CEO of American Media Inc., publisher of the tabloid National Enquirer, was reported last week to have been granted immunity by U.S. federal prosecutors.
Postmedia Network Inc. will close six small town newspapers and cease print publication of four more, as well cut about 10 per cent of its workforce across the newspaper chain.
Postmedia executive chairman Paul Godfrey said in a statement that the revenue declines from its legacy business had slowed and there were "positive signs" from its digital advertising initiatives.