The Globe and Mail reports in its Friday edition that despite deep cost-cutting, Postmedia paid $925,000 in bonuses to executives for stick-handling a deal to acquire the Sun newspaper chain. The Globe's James Bradshaw writes that the newspaper chain also paid more than $1-million in severance to its ousted chief operating officer. Company disclosures released Wednesday show that Postmedia chief executive officer Paul Godfrey was paid $1.76-million for the 2015 fiscal year, up from $1.42-million in 2014. His base salary remained $950,000, and in May, his contract was extended until 2018. Postmedia has undergone massive cutbacks to cope with rapidly declining print revenue, as well as the cost of servicing more than $670-million in debt. Postmedia recently cut $131-million in annual costs over three years, and is now slashing another $50-million over two years. Its net loss for the year was $263-million, including $153-million in writedowns. The $316-million deal to buy Sun Media's English-language papers has proved profitable for Postmedia's leaders. The company paid Mr. Godfrey a $400,000 bonus, plus $200,000 to chief financial officer Doug Lamb. Four other execs received between $25,000 and $150,000.