The Globe and Mail reports in its Wednesday edition that the country's two largest newspaper chains are in merger talks, working on a deal they said would cut debt and build a media business better able to compete with global digital platforms. The Globe's Andrew Willis writes that heavily indebted Postmedia, with 130 properties that include papers in most major Canadian cities, and Toronto Star parent Nordstar Capital LP said Tuesday they are in talks to combine operations. Their proposed union comes at a time when social media giants such as Facebook and Google are threatening to block access to news as part of a continuing battle with the federal government over regulation of the Internet. The two companies would share operating control of the new entity, while existing Postmedia shareholders would own a 56-per-cent economic interest and Nordstar -- owner of 70 titles -- holding a 44-per-cent interest. Nordstar, controlled by Jordan Bitove, would retain a 65-per-cent stake in the Toronto Star, which would become a separate company. Mr. Bitove would be chairman of the combined companies while Andrew MacLeod, chief executive officer of Postmedia, would be its CEO. Mr. Bitove would remain publisher of the Toronto Star.