Canadian News Sep 3, 2020 2:08 PM EST

MEDIA BAILOUT: Trudeau gov't subsidizes over a third of profits for Free Press-owned papers

Free Press—owned by FP Newspaper Inc.—owns several papers in Manitoba, including the Brando Sun. the Carillon, and the Carberry News Express.

MEDIA BAILOUT: Trudeau gov't subsidizes over a third of profits for Free Press-owned papers
Roberto Wakerell-Cruz Montreal, QC
Join the ranks of independent, free thinkers by supporting us today for as little as $1.
Support The Post Millennial

Media bailout cash accounts for over a third of some newspapers' revenue, new financial statements show.

Among those whose revenues are subsidized by the taxpayer include the Winnipeg Free Press, which had initially spearheaded the campaign for bailout cash. The paper's second quarter financial statements show that of the $12 million garnered during the pandemic, 38 percent—or $4.5 million—came from the Trudeau government.

"While we believe swift actions taken to reduce and defer costs together with meaningful direct support by the federal government has resulted in us being in a relatively stable financial position currently, this could deteriorate quickly if the overall economy does not improve,” the statement reads.

"These measures have been called a bailout by some," said Free Press chair Bob Cox in 2019. "I would suggest this crowd knows very little about the business of operating a newspaper."

Free Press—owned by FP Newspaper Inc.—owns several papers in Manitoba, including the Brando Sun. the Carillon, and the Carberry News Express.

Among payments made to the Free Press chain include $175,000 in "Journalism Tax Credits," several $60,000-a year wages, and pandemic relief in the form of the Canada Emergency Wage Subsidy totalling $3.9 million, according to Blacklock's Reporter.

The Free Press, which has been published since 1872, has seen drastic declines in print ad sales during the pandemic. The paper lost 45 percent in print ad sales compared to this time last year, with Cox saying that the paper was facing the "most serious crisis [the Free Press] has faced in [its] history."

Join and support independent free thinkers!

We’re independent and can’t be cancelled. The establishment media is increasingly dedicated to divisive cancel culture, corporate wokeism, and political correctness, all while covering up corruption from the corridors of power. The need for fact-based journalism and thoughtful analysis has never been greater. When you support The Post Millennial, you support freedom of the press at a time when it's under direct attack. Join the ranks of independent, free thinkers by supporting us today for as little as $1.