Postmedia, one of Canada’s biggest publishers, has called on the government to spend more on Canadian newspaper ads, and to give greater tax breaks to companies that do the same.
Postmedia president and chief executive Paul Godfrey made the plea last week to a parliamentary committee examining the future of the country’s media, thestar.com reports.
“Come back and advertise in our newspapers and on our websites,” Mr Godfrey asked, noting that government cuts to advertising in recent years had disproportionately affected newspapers.
“We’re asking the government to be an ally, not for a bailout of the Canadian newspaper industry.”
Mr Godfrey pointed to federal statistics showing government advertising in newspapers was halved, while online advertising almost doubled, between 2010 and 2015. The bulk of the money went to foreign-owned companies such as Google and Facebook, which produce no original Canadian news content.
He called on the government to explore ways to encourage Canadian businesses to advertise locally, through higher tax write-offs for firms that buy ads in Canada.
Gannett lifts Tribune bid by 22 per cent
Gannett has boosted its all-cash offer to acquire Tribune Publishing by 22 per cent to $US15 per share, raising the stakes after the Chicago Tribune and Los Angeles Times publisher rejected an unsolicited $US12.25-a-share bid last month.
The revised offer, disclosed in a Securities and Exchange Commission filing on Monday, values Tribune Publishing at $US864 million, rather than $US815 million, including the assumption of debt, the Chicago Tribune reports.
The sweetened bid is almost double the price at which Tribune Publishing stock was trading before Gannett made its initial offer public on April 25. It increases pressure on Tribune Publishing’s board to open the door to discussions in advance of the company’s annual meeting on June 2, where Gannett is enlisting shareholders for a mostly symbolic proxy fight.
Tribune Publishing confirmed receipt of the higher bid and said its board would “thoroughly review” Gannett’s revised proposal.
IAB Singapore heads talks on viewability benchmark
IAB Singapore is leading discussions between publishers, agencies and brands to establish a viewability benchmark for ad performance in Southeast Asia.
Over the next four months, the IAB will bring together major players to piece together a white paper to establish a measurement standard – and have it third-party verified.
The first hurdle in developing the white paper, the IAB says, is aligning a baseline metric acceptable to all. At a recent roundtable, some publishers did not disclose their display advertising metric. Others questioned the quality of viewability metrics.
For more news from NewsMediaWorks, click here.