The announcement this morning that Postmedia (my employer) had reached a deal to acquire “certain” Saltwire Network assets didn’t surprise me. Not because I’m privy to confidential negotiations by senior executives at my company, but because the deal makes sense considering Postmedia’s recent dealings.

The announcement is light on details — it doesn’t specify which assets, a purchase price, whether debt will be assumed, etc. But it presumably includes Saltwire’s news outlets in Nova Scotia, Prince Edward Island and Newfoundland and Labrador, which would expand Postmedia to nine provinces (it would be 10 but it just sold its assets in Manitoba).

The deal is not guaranteed. Closing conditions include “satisfactory outcomes with unions and other stakeholders” and court approval. But there aren’t a lot of people buying newspaper chains these days. Unless some rich person wants to own some money-losing local papers (there were “several” non-binding letters of intent, but we don’t know how serious they were), the only alternative to Postmedia might be a shutdown.

The acquisition follows other expansion moves by Postmedia, including the acquisition of Brunswick News in 2022 and an attempted but failed merger with Torstar in 2023. Postmedia also already has had some dealings with Saltwire, including for content sharing.

When Saltwire filed for creditor protection in March, the writing was on the wall. Because of its insolvent state, the sale could progress quickly. Postmedia wants key conditions satisfied by Aug. 5 so the deal can close by Aug. 26.