Mr. Phyllise Gelfand reports

POSTMEDIA CONFIRMS END TO MERGER DISCUSSIONS WITH NORDSTAR CAPITAL

Postmedia Network Canada Corp.'s discussions with Nordstar Capital LP regarding a potential transaction have ceased.

On June 27, 2023 Postmedia announced it had entered into non-binding discussions to consider a combination of Postmedia, together with the Metroland newspapers and certain operational assets of the Toronto Star, through a potential merger transaction and that there could be no assurance that the parties would enter into definitive agreements. The parties were unable to come to agreement on the terms of the merger.

"The need for creative solutions and foundational transformation in our industry remains. Our continued focus is on protecting and ensuring Canadians' access to reliable information," said Andrew MacLeod, president and chief executive officer, Postmedia. "By levelling the playing field with the tech giants and creating a healthy ecosystem, we can ensure that the media industry and journalism remain vibrant, diverse, and resilient in Canada."

About Postmedia Network Canada Corp.

Postmedia Network Canada is the holding company that owns Postmedia Network Inc., a Canadian news media company representing more than 130 brands across multiple print, on-line and mobile platforms.