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No public money for overpaid newspaper execs!

This petition had 24 supporters


Paul Godfrey, CEO of Postmedia, made $2.6 million in 2016 including his bonus. Meanwhile "...he laid off editorial staff across the chain.  Four other Postmedia executives also received six figure bonuses that combined could have funded about 20 reporters." (https://thetyee.ca/Mediacheck/2017/06/28/Newspaper-Subsidies/

In 2015, Torstar CEO David Holland made approximately $2.5 million (http://mediaincanada.com/2016/07/06/torstars-david-holland-announces-retirement/ Torstar owns the Toronto Star, the The Hamilton Spectator and the Waterloo Region Record, Metro commuter papers, Black Press, Olive Media, Harlequin romance novels, and many community newspapers and other properties.

No one knows what executives at The Globe and Mail make as it's privately owned by The Woodbridge Company, the investment holding company of the Thomson family of New Brunswick.  But it's likely they are making similar money.

Yet these wealthy businessmen have the gall to ask Canadian taxpayers to subsidize their poor business decisions.  They want the Canadian government to establish a $350-million fund to support civic news reporting while they continue to lay off staff, cheapen their product, and rake in millions for themselves!

Tell these rich hypocrites: no public money for publicly traded news corporations.  Or for the Globe and Mail.  If they need money for their businesses, they can reduce their executives' salaries and bonuses.



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