Postmedia CEO warns MPs newspaper industry ‘ugly and getting uglier’

OTTAWA – Postmedia Network CEO Paul Godfrey warned MPs Thursday that the newspaper industry in Canada is in peril and urgently needs some form of government help.

“In three years, there will be more (newspaper) closures, some in your communities,” Godfrey told MPs on the House of Commons Heritage Committee.

That committee has been studying ways to protect local traditional media — newspapers, TV and radio — that generally depend on the sales of advertising revenue to pay their journalists and other employees.

“The erosion of print revenue has been dramatic,” Godfrey said. “The picture is ugly and it will get uglier.