Thursday, March 5th-4.7°C
25405
24506

Montreal La Presse print edition to disappear: newspaper executive

MONTREAL - One of Power Corp.'s two co-chief executives says the print edition of Montreal La Presse will disappear "eventually."

Co-chief executives Andre and Paul Desmarais Jr. noted the growing interest in online news as well as a steady decline in revenue from print advertising for newspapers.

The issue was raised during Power Corp.'s annual meeting in Montreal today when Paul Desmarais Jr. was asked whether he foresees the disappearance of the print edition of its flagship newspaper.

His reply was, "Eventually, yes, quite simply, yes."

At a news conference after the meeting, the two men did not give a timeline for the scenario.

They say the disappearance of the 130-year-old print edition would more than likely result in the loss of jobs.

Power Corp.'s Gesca affiliate owns several newspapers throughout the province, including Quebec Le Soleil, Sherbrooke La Tribune and Ottawa Le Droit.

Power Corp., through its Square Victoria Communications Group subsidiary, is also a co-owner of The Canadian Press.

Gesca is counting heavily on La Presse+, a free interactive digital edition for iPad that was introduced last year.

The two executives say one-half of the readers of La Presse+ are aged between 25 and 54 and that it accounts for about 30 per cent of La Presse's revenues.

The Power Corp. (TSX:POW) executives did not want to quantify the revenue drop in print advertising, preferring to say that fellow publishers Torstar Corp. (TSX:TS.B) and Quebecor (TSX:QBR.B) are experiencing similar problems.

The Canadian Press


Read more Business News

24896


Recent Trending




Today's Market
S&P TSX15082.84-51.01
S&P CDNX698.09-4.21
DJIA18096.90-106.47
Nasdaq4979.668+12.526
S&P 5002101.08+2.55
CDN Dollar0.8024-0.0025
Gold1200.00-0.60
Oil53.35+0.12
Lumber287.30-3.40
Natural Gas2.746-0.023

 
Okanagan Companies
Pacific Safety0.13-0.005
Knighthawk0.010.00
QHR Technologies Inc1.55-0.05
Cantex0.035-0.005
Anavex Life Sciences0.18+0.005
Metalex Ventures0.04-0.005
Russel Metals24.95-0.26
Copper Mountain Mining1.24-0.01
Colorado Resources0.13-0.005
ReliaBrand Inc0.0065-0.0015
Sunrise Resources Ltd0.045-0.005
Mission Ready Services0.225+0.01

 



25194

FEATURED Property
16506275815 Oleander
2 bedrooms 1 baths
$237,500
more details
image2image2image2
Click here to feature your property
Please wait... loading


Refinance your mortgage?

Canadian Mortgage rates are low and could be dropping down in time for the spring market following a drop in the Bank of Canada Rate on January 21 by 1/4% which will save new buyers and those with mo...


Creating your retirement vision

A vision means different things to different people. To the head of a large corporation, it’s the ability to chart a course that will deliver success (think Steve Jobs and Apple), to a shaman, i...


It's OK to say 'I'm sorry'

Photo: ContributedStand-up comedians and sitcoms have been making fun of Canadians for being polite as long as I can remember. Being known for our niceness is certainly not a bad thing and I wish more...

_








Member of BC Press Council


25413