Rogers Media is reportedly looking to sell eight of digital and print media assets to a single buyer.
According to the Globe and Mail, the media subsidiary of Canadian telecommunications service provider Rogers wants to sell Maclean’s, Canadian Business, MoneySense, Today’s Parent, Hello! Canada, Flare and Chatelaine in a single bundle, rather than breaking up those publications and selling them individually.
Included in the sale would be approximately 150 people who currently work for Rogers Media’s publishing division.
However, advertising sales employees would not be included.
The Globe reports that Rogers Media has enlisted the investment banking arm of national bank CIBC to manage the sale of its digital and print magazine assets.
This latest news comes approximately two months after Rogers Media laid off 75 people who were part of the company’s digital content and publishing team.
Rogers Media announced significant cuts to its publishing division in September 2016, moving four print publications — MoneySense, Sportsnet Magazine, Canadian Business and Flare — to a digital-only format.
Source: Globe and Mail