Competition Bureau ends probe of Postmedia-Torstar newspaper swap
The Competition Bureau has closed an investigation into a 2017 newspaper swap between Postmedia Network Canada Corp. and Torstar Corp., concluding that “no further action” is warranted.
The transaction saw the newspaper groups swap 41 community and daily newspapers, 36 of which were subsequently closed.
The Competition Bureau was probing whether Postmedia and Torstar had agreed to close titles and not compete in certain regions as part of the transaction.
“Following a review of the available evidence, the Bureau concluded that no further action was warranted,” the competition watchdog said in a statement on Thursday.“To refer a case for prosecution under the criminal conspiracy provisions of the Competition Act, the Bureau must find clear evidence demonstrating that competitors reached an agreement to fix prices, allocate markets, or lessen or eliminate the supply of a product or service.”