"CanWest Global Communication Corp's., proposal to transfer the National Post newspaper to one of its subsidiaries which already contains the firm's other assets such as the Vancouver Sun and Ottawa Citizen, has been given approval by both the court and lenders.
In the documents filed by CanWest in the court this week, the company stated that if the required shuffling does not happen, it will have to axe the publication of the National Post. It was revealed that creditors at the parent company were no longer willing to cover any more losses at the newspaper.
After the ruling was passed, Paul Godfrey, president and CEO of the Post, said "The Post has found its logical home, and hopefully these doomsday scenarios we have been hearing for more than a decade will soon disappear. This is another step on the path to profitability".
I guess closing the paper would mean the end of any potential 'path to probability' so a move that staves off closure of the paper technically is on the path to profitability - assuming there is one, of course. Given that the primary purpose of the National Post's existence is to further the policies and the political party that are supported by the convicted felon that founded it - a party and policies that I personally oppose and consider harmful to the country, I'd naturally be happy enough to see the National Post just disappear.