It’s an idea that seems to have gotten a lot of traction recently as the traditional media business model collapses and front-line journalists blame the problems mainly on management excess and poor business decisions: If the union and/or its members bought the company, they could solve all those problems and turn it into a profit-making enterprise.
It’s the idea that the employees at CHCH in Hamilton had when it looked like owner Canwest might shut it down. But now that Channel Zero has offered to buy the station and maintain the local jobs and newsroom, that idea becomes moot.
At CHEK in Victoria, they weren’t so lucky. Canwest couldn’t find a buyer for it, nor could they convert it into a Global station because a condition of license prevents duplication with Vancouver’s CHAN. So the plan is to have it shut down by the end of August.
Last week comes word that employees at CHEK (there are about 45 in all) are pooling their money in a bid to buy the station before it gets shut down. They’ve pledged more than $500,000 and are hoping to present the formal offer soon. That might be too late for Canwest though, since these kinds of transactions take months and there’s a ticking clock.