THE OLD POWER CORPORATION NEWSPAPERS ARE BANKRUPT

THE OLD POWER CORPORATION NEWSPAPERS ARE BANKRUPT 
By Bernard Bujold - 
The 6 daily newspapers formerly owned by Power Corporation are officially filed for bankruptcy protection. The Legault Government wants to try to find a way to keep the newspapers running and has granted a $5 million loan to help find a permanent buyer, but its efforts may fail. 
The screenplay is strangely similar to that of the daily l'Évangéline en Acadie, which closed in 1982. The various provincial and federal governments tried to keep the acadian media alive and even to revive it, but despite the millions in subsidies, this was not possible. I was involved in the efforts to revive the Evangeline and Pierre Péladeau Sr. had been targeted as a buyer... 
Pierre Karl Péladeau said he is interested in acquiring the 6 media in difficulty but to make an economy of scale with his own newspapers. We can understand here a kind of fusion.... 
Among the 6 bankrupt dailies, I mainly note Le Soleil, Le Nouvelliste and Le Droit, three media that, along with Evangeline and Le Devoir since their creation, have been true pillars and fierce defenders of Francophone culture in Canada. 
The other Power Corp's former newspapers, LA PRESSE, will also be in financial difficulty if the Fondation new owner does not succeed in imposing itself and finding its rhythm of operation. If this fails, the bankruptcy of La Presse would also be the sad consequence...
In the case of l'Evangeline, survival had not been possible and it was the creation of a brand new media in Caraquet, l'Acadie Nouvelle, that was the solution. 
It will be difficult in 2019 to identify the solution for a group of 6 traditional dailies covering a vast territory like Quebec, especially with the financial modernity of the Internet.  To be continued... 
SEE STORY LA PRESSE
SEE STORY LE JOURNAL DE MONTRÉAL