
The National Post is owned by Postmedia Network Canada Corp. (TSX: PNC.A, PNC.B), Canada's largest newspaper publisher with more than 130 brands. Postmedia is majority controlled by American hedge fund Chatham Asset Management. The National Post was founded in 1998 by Conrad Black and operates as Postmedia's flagship national newspaper, headquartered in Toronto, Ontario, Canada.
Parent Company
Acquired
2010
Status
Publicly Traded
Headquarters
| Brand | Parent Company | Ownership Type |
|---|---|---|
| National Post | Postmedia Network Canada Corp. | Wholly owned |
The National Post was founded on October 27, 1998, by Conrad Black through his company Hollinger Inc. Black was already one of Canada's most powerful newspaper publishers. He built the National Post around the Financial Post, a business publication he had acquired from Sun Media in 1997 for approximately $180 million. The Financial Post, founded in 1907, became the business section of the new newspaper.
The launch was ambitious. Black hired Kenneth Whyte as the founding editor and invested heavily in high-profile columnists including Andrew Coyne, Diane Francis, and Mark Steyn. The paper targeted educated, business-oriented readers with a conservative editorial perspective that differentiated it from the more centrist Globe and Mail. Initial circulation reached approximately 300,000 copies daily within the first year.
The paper lost money from the start. Hollinger Inc. was under financial pressure from its parent company and facing scrutiny over corporate governance practices. In 2000, Black sold the National Post to Canwest Global Communications, a Winnipeg-based media company controlled by the Asper family, as part of a broader divestment of Hollinger's Canadian newspaper assets. The sale price was approximately $3.5 billion for the entire newspaper chain, with the National Post included as part of the package.
Under Canwest ownership, the National Post continued to lose money. Canwest struggled with debt from the acquisition and the broader decline of print advertising. The paper cut staff and reduced circulation in several markets. Canwest filed for creditor protection under the Companies' Creditors Arrangement Act (CCAA) in October 2009. The National Post was briefly excluded from the initial filing but was added in 2010.
Postmedia Network Inc. was formed in 2010 specifically to acquire Canwest's newspaper assets. A group of creditors led by Golden Tree Asset Management provided approximately $925 million in financing for the purchase. The deal closed in July 2010, transferring the National Post and dozens of metropolitan daily newspapers to the new company. Postmedia went public on the Toronto Stock Exchange shortly after.
Under Postmedia, the National Post has undergone significant contraction. The paper ceased Monday print editions in 2010. It ended standalone Saturday publication in some markets. Staff has been reduced through multiple rounds of layoffs. In 2023, Postmedia cut approximately 11% of its editorial staff across its newspaper portfolio. In May 2026, Postmedia announced it was exiting the flyer distribution business entirely, eliminating 50 full-time and 200 part-time positions. Flyer distribution operations were phased out between June 8 and August 31, 2026.
Postmedia's financial results tell the story. For the nine months ended May 31, 2026, Postmedia reported revenue of $368.5 million, up 11.6% from $330.3 million in the prior year. The increase came almost entirely from product distribution revenue (up $41.2 million) and parcel delivery (up 23.1%), not from newspapers. Advertising revenue fell 7.0% to approximately $149 million. Circulation revenue fell 6.0%. The company posted a net loss of $52.3 million for the nine-month period, up from a $32.6 million loss in the prior year.
In March 2026, Postmedia acquired accelerate360 Canada Inc. for $2 million in cash plus an earnout of up to $2 million. The acquisition added wholesale distribution and merchandising operations, further diversifying Postmedia away from newspapers. The company is increasingly a logistics and distribution business that also publishes newspapers.
The Online News Act (Bill C-18), which took effect in 2023, has provided some revenue support. Postmedia recognized $10.4 million in revenue from the legislation in the quarter ending February 28, 2026, with an additional $5.2 million received after the reporting period. The law requires large digital platforms like Google to compensate Canadian news publishers for linking to their content. Critics have noted that Canadian media companies are becoming structurally dependent on government-linked funding, with subsidies potentially approaching 50% of journalist salaries up to $85,000 per year.
The National Post continues to publish daily in print and online. Its digital audience has grown as print circulation declines. The paper maintains a conservative editorial stance on its opinion pages, covering federal politics, business, and national affairs with a perspective that differentiates it from the Globe and Mail and the Toronto Star.
What does Postmedia Network own?
Postmedia Network owns over 130 print and digital news titles across Canada. Major publications include the National Post, Financial Post, Vancouver Sun, The Province, Calgary Herald, Calgary Sun, Edmonton Journal, Edmonton Sun, Ottawa Citizen, Ottawa Sun, Montreal Gazette, Toronto Sun, Winnipeg Sun, and Windsor Star. The company also operates numerous community newspapers and digital news platforms. Additionally, Postmedia operates commercial printing facilities that produce its own newspapers and provide services to third-party clients.
Is Postmedia Network publicly traded?
Yes, Postmedia Network Canada Corp. is publicly traded on the Toronto Stock Exchange under ticker symbols PNC.A (Class A shares) and PNC.B (Class B shares). However, the company operates as a controlled company, with American hedge fund Chatham Asset Management holding approximately 63% of the shares. The public float is relatively small, and Chatham's majority ownership gives it effective control of the company.
Who founded Postmedia Network?
Postmedia Network was formed in 2010 by an ownership group assembled by Paul Godfrey, a Canadian media executive who had previously served as publisher of the Toronto Sun and CEO of the Ontario Lottery and Gaming Corporation. Godfrey secured financial backing from U.S. private equity and hedge fund investors, including GoldenTree Asset Management, to acquire the newspaper publishing assets of Canwest Global Communications, which had filed for creditor protection in 2009.
Where is Postmedia Network headquartered?
Postmedia Network is headquartered in Toronto, Ontario, Canada. The company's corporate offices are in Toronto, where it manages its national portfolio of newspapers and digital properties. The company operates newspaper offices and printing facilities across Canada, with significant presences in Vancouver, Calgary, Edmonton, Ottawa, Montreal, and Winnipeg.
How many brands does Postmedia Network own?
Postmedia Network owns over 130 print and digital news titles across Canada. This includes major metropolitan daily newspapers (National Post, Vancouver Sun, Calgary Herald, Ottawa Citizen, Montreal Gazette, and others), Sun tabloid newspapers (Toronto Sun, Calgary Sun, Edmonton Sun, Ottawa Sun, Winnipeg Sun), and numerous community newspapers serving smaller cities and towns. The portfolio also includes digital news platforms associated with these print publications.
Who owns Postmedia Network?
Postmedia Network is majority owned by Chatham Asset Management, a New Jersey-based hedge fund led by Anthony Melchiorre. Chatham acquired its approximately 63% stake through the 2016 debt-for-equity restructuring, in which it exchanged bonds for equity. Other shareholders include institutional investors and public shareholders who hold shares through the Toronto Stock Exchange. The American hedge fund ownership of Canada's largest newspaper publisher has been a source of controversy in Canada.
What is Postmedia Network's revenue?
Postmedia Network reported revenue of approximately CAD 430 million for FY2024. This represents a continued decline from previous years, reflecting the structural contraction of the Canadian newspaper industry. Digital revenue, including digital advertising and subscriptions, represents approximately 35-40% of total revenue and is growing, but not fast enough to offset the decline in print circulation and print advertising revenue. The company has responded to declining revenue with aggressive cost-cutting measures.
What is the relationship between Postmedia and Canwest?
Postmedia Network was formed in 2010 to acquire the newspaper publishing assets of Canwest Global Communications, a Canadian media company owned by the Asper family that had filed for creditor protection in 2009. Canwest's newspaper assets, which included the National Post, Vancouver Sun, Calgary Herald, Ottawa Citizen, and other major Canadian newspapers, were acquired by the Postmedia ownership group for approximately CAD 1.1 billion. Postmedia did not acquire Canwest's broadcasting assets, which were sold separately to Shaw Communications.
The National Post does not publish a standalone sustainability report. As a newspaper, its primary ethical considerations relate to journalistic integrity, editorial independence, and the environmental impact of print production. Postmedia does not hold B Corp certification, organic certification, or any of the consumer goods sustainability certifications. Those frameworks do not apply to a newspaper.
On editorial ethics, the National Post follows Postmedia's editorial code of conduct, which requires fact-checking, source verification, and separation of news and opinion content. The paper publishes corrections when errors are identified. Its opinion pages are clearly labeled as commentary. The conservative editorial stance of the opinion section is distinct from its news reporting, though critics have argued the line is not always clear.
The environmental footprint of print newspapers is significant. Newsprint production requires timber, water, and energy. Postmedia has reduced its print footprint by consolidating printing operations, reducing print frequency at some titles, and shifting readers to digital platforms. The company exited flyer distribution in 2026, which reduced its physical distribution operations. These changes were driven by cost considerations, not environmental goals, but they have reduced the company's physical footprint.
Postmedia's growing dependence on government-linked revenue raises an ethical question that is unique to Canadian media. The company receives Bill C-18 revenue from Google (mandated by legislation), federal journalism tax credits, and other government programs. At the same time, the National Post's opinion pages frequently editorialize against government spending and intervention. Critics have noted this tension. Postmedia has not addressed it publicly in a systematic way.
The National Post and its journalists have won National Newspaper Awards, Canada's premier journalism prize. The paper has received recognition for investigative reporting, business journalism, and editorial commentary. Postmedia newspapers collectively won multiple National Newspaper Awards in 2024 and 2025, though specific National Post wins are not always broken out separately in Postmedia's corporate communications.
The Financial Post section has been recognized for its coverage of Canadian business and economics. Financial Post journalists have won Canadian Association of Journalists awards and have been finalists for the Michener Award, one of Canada's highest journalism honors.
The National Post's digital content has been recognized by the Canadian Online Publishing Awards. The paper's opinion columnists, including Andrew Coyne and Chris Selley, are frequently cited in Canadian political analysis and have been recognized by the National Newspaper Awards for commentary.
Specific award counts are difficult to verify independently because Postmedia does not publish a comprehensive awards list and many Canadian journalism awards are given to individual journalists rather than to publications. The awards listed above are based on publicly available records from the National Newspaper Awards and Canadian Association of Journalists.
Foreign Ownership Controversy: The National Post is ultimately controlled by Chatham Asset Management, a U.S. hedge fund that holds approximately 63% of Postmedia's shares. Canadian media policy restricts foreign ownership of broadcasters but has weaker restrictions on newspaper ownership. Critics including the Friends of Canadian Broadcasting and various media academics have argued that foreign financial control of Canada's largest newspaper chain undermines editorial independence. Postmedia maintains that editorial decisions are made independently by Canadian journalists. No regulatory action has been taken. The current status is that the ownership structure remains unchanged.
Conservative Editorial Bias Allegations: The National Post has been accused of conservative bias by media critics, academic researchers, and rival publications. A 2023 study by the Public Policy Forum noted that Postmedia's opinion pages consistently favor conservative economic positions. The paper's coverage of climate policy, Indigenous rights, and federal-provincial relations has drawn particular criticism. The National Post has not formally responded to these critiques. Its editors maintain that the opinion section represents a range of conservative and libertarian views, and that news reporting is separate from editorial stance. The controversy is ongoing.
Government Subsidy Tension: Postmedia receives significant revenue from government-linked sources, including Bill C-18 payments from Google ($10.4 million in Q2 FY2026), federal journalism tax credits, and other programs. The National Post's opinion pages have editorialized against government subsidies and intervention in the media sector. Critics including The Hub have called this a structural contradiction. Postmedia CEO Andrew MacLeod has defended the company's acceptance of Bill C-18 revenue as legally mandated compensation from platforms, not a subsidy. The debate continues as of 2026.
Layoffs and Editorial Capacity: Postmedia has conducted multiple rounds of layoffs since 2010. In 2023, approximately 11% of editorial staff were cut. In May 2026, Postmedia eliminated 50 full-time and 200 part-time positions by exiting flyer distribution. While the flyer cuts were not editorial positions, they reduced the company's overall workforce. The Canadian Unions of Public Employees (CUPE) and Unifor have criticized the layoffs as undermining journalism quality. Postmedia has stated the cuts are necessary for financial sustainability. The current status is that editorial staffing remains reduced compared to historical levels.
Conrad Black Criminal Conviction: National Post founder Conrad Black was convicted in 2007 of fraud and obstruction of justice in a U.S. federal court related to his management of Hollinger International. He served 42 months in prison and was pardoned by President Donald Trump in 2019. The conviction related to Hollinger's corporate governance, not to the National Post's editorial operations. The paper has reported on Black's legal troubles independently. Black no longer has any ownership stake in the National Post.
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