REVIEW OF THE QUEBEC DAILY NEWSPAPERS FILE

August 21, 2019




REVIEW OF THE QUEBEC DAILY NEWSPAPERS FILE 
By Bernard Bujold – 
The assessment of the future of Power Corporation’s 6 former newspapers is becoming more and more obvious! It will be difficult to avoid final bankruptcy…
Pierre-Karl Péladeau is no longer even sure if he will make an offer to the trustee because the procedure is more unpredictable than a private company offer such as the one he made last week (August 12, 2019) and which was refused by François Legault’s government. In addition, an informal survey of other media groups in Quebec shows very little serious interest in buying back the 6 dailies… 
The auction process by the trustee will begin after Labour Day on September 2 and the conclusion should be fairly quick. It will be either a takeover by another group or a liquidation sale of assets at the public auction. Moreover.
La Presse Plus could well be the next in serious difficulties because, according to the minister responsible for the file at the Quebec Government (Pierre Fitzgibbon), the public fundraising campaign is not obtaining the results necessary for the survival of the media. The operating deficit would be $30 to $50 million for one year…
In the end, the only winner is the Power Corporation group, because it is no longer the legal owner, can avoid this whole saga and save its money…
In business, you have to know how to make the right decisions! Pierre Péladeau Sr. always rehearsed: “…Don’t throw good money after bad money…”
SEE REPORTS 
1. AUCTION SALE 
2. LA PRESSE PLUS IN DIFFICULTY 
3. THE POWER CORPORATION GROUP BIG WINNER 

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A NEWSPAPER IS A COMMERCIAL ENTERPRISE

August 20, 2019


A NEWSPAPER IS A COMMERCIAL ENTERPRISE 
By Bernard Bujold- 
A policy statement has just been published in the United States by 181 giant U.S. corporations, a statement that is intended to be a social commitment. 
The text of the statement reminds us that a commercial enterprise belongs to all the society and the company must aim to meet the needs of all owners ranging from shareholder investors, suppliers, customers, the surrounding community and of course employees. And it is all its owners who decide on the success or failure of each of a company who can offer a product that meets the needs of all owners. 
In a sense, this statement is perfectly applicable to the crisis situation at Quebec’s daily newspapers. Newspapers must meet the needs of all their owners, shareholders and community. 
SEE TEXT OF AMERICAN CORPORATIONS 


THE FUTURE OF QUEBEC’S DAILY NEWSPAPERS

August 20, 2019


THE FUTURE OF QUEBEC’S DAILY NEWSPAPERS 
By Bernard Bujold – 
If there is a conclusion to the crisis in Quebec’s daily newspapers, it is that Guy Crevier’s bet on regional free access have been lost. 
The media crisis is not the fault of Google and Facebook, which offer a free but universal product, while a regional media is something else to be local. 
The one editor who seems to understand the situation well and who offers the best reflection on the crisis at Power Corporation’s old newspapers is the publisher of Le Devoir, Brian Myles. 
I have never been a fan of his editorial opinions, but he is right about regional and urban media, free is not viable and he proves it with the Le Devoir business plan. A modest newspaper with modest but viable ambitions. 
We can conclude that Guy Crevier was too ambitious or unlucky in his bet. However, the conclusion is always the same when you lose a bet: you also lose your stake and the fortune bet. 
The solution is now, as the publisher of Le Devoir writes, in the hands of the regional population, who may or may not agree to pay for regional information. The solution is also in the hands of new managers who will be more modest in their ambitions. 
To be continued! 
SEE EDITORIAL LE DEVOIR
SEE RADIO CANADA STORY


THE OLD POWER CORPORATION NEWSPAPERS ARE BANKRUPT

August 19, 2019





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


MONTREAL PRIDE PARADE 2019

August 19, 2019


PRIDE PARADE IN MONTREAL 2019 
By Bernard Bujold –
Regardless of our sexual orientation, the Pride Parade attracts crowds every year and the 2019 Parade, the 36th, can be described as a success. 
This parade can also be used to assess the popularity of political leaders… According to Ulysses and I, we can say that Justin was the most popular. 
The crowd of spectators was estimated at about 350,000 people, according to the organizers, including 12,000 walkers who participated directly in the parade. 
SEE PHOTOS


RAFAEL NADAL IS GETTING MARRIED THIS OCTOBER 2019…

August 16, 2019


RAFAEL NADAL IS GETTING MARRIED THIS OCTOBER 2019 
By Bernard Bujold The tennis champion Rafael Nadal and his future wife Xisca Perelló are reportedly getting married next October Nadal has been engaged to Xisca Perelló since May 2018 and they are together since 2005 but their live life always been kept very secret. 
SEE STORY


JUSTIN TRUDEAU AND THE 2019 FEDERAL ELECTION

August 16, 2019


JUSTIN TRUDEAU AND THE 2019 FEDERAL ELECTION 
By Bernard Bujold – 
Justin Trudeau is reminiscent of Donald Trump in the United States and his reaction to the Dion report is similar to Donald Trump’s reaction to the Mueller report. In Justin’s case, his reaction is even bolder because the Dion report accuses Trudeau of conflict while Mueller could not conclude that there was any fault on the part of the president. 
The October election could perhaps turn in Trudeau’s favour if Quebec voters react favourably to Trudeau’s position in the Lavalin case. The bet is very risky and bold, but Justin’s refusal to apologize might earn the admiration of many Quebecers who were unhappy with Jody Wilson Raybould’s behaviour, which they identify with English Canada. 
Moreover, the media line of thought that it is the politicians who represent the people and not the civil servants is an argument that holds up well to the voters. 
We’ll have to see October 21, but Justin Trudeau took the courageous risk of playing it all for the whole! 
To be continued… 
SEE REPORTAGE