What happened

On Monday, a private equity firm called Fiera Private Debt started the legal process to dissolve SaltWire.

At stake are the jobs and livelihood of hundreds of reporters, printers, delivery drivers, and related staff across three provinces.

SaltWire was created by the owners of the Halifax Herald in 2017 specifically to purchase most newspapers in Nova Scotia, Newfoundland, and Prince Edward Island from Transcontinental Media. The purchase price was $33,325,500 with $23,325,500 paid up front and the remaining $10 million to be paid over three years, at an interest rate of 3% compounded annually.

Read the article by the Halifax Examiner:

https://www.halifaxexaminer.ca/journalism/the-end-of-saltwire-what-happened-and-what-happens-next/

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