Godfrey’s Odd Strategy: Whopper Watch

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“I take my hat off to the Liberal government. They were smart enough to notice that if they did nothing there will be no media in Canada.”

Postmedia CEO Paul Godfrey on creating a $350-million subsidy for Canadian newspapers.

 

Wow, it’s all Godfrey all the time on The Bulldog today.

Mr. Godfrey … please. The CBC will still be there if and when your company is gone.

Why even the humble Bulldog will be there when Postmedia goes. Other new and better enterprises will arise.

But if the government subsidizes Postmedia, new operations won’t have a chance to flourish.

One more point Mr. Godfrey. Don’t use the phrase “they were smart enough to notice …” Kind of sounds like you are patronizing and talking down to the people you want money from.

Bad idea. People don’t like to be patronized.

 


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5 thoughts on “Godfrey’s Odd Strategy: Whopper Watch

  1. Ken,
    Come on – the money has to come from someplace to pay the leveraged U.S. dollar debt he borrowed.

    I guess not enough is cash coming in from the PAY DAY Loan company he’s already partnered with. Cash from poor people desperate to survive and cash from taxpayers might keep a sinking ship going for a bit longer.

    Personally, I say – let him sink.

    skoal,
    Chaz

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  2. When Godfrey decided to build an empire, he financed it with high yield bonds. A couple of decades back those financial instruments were called junk bonds. The high yield required by the funders was a reflection of their perception of the high risk they were taking on. They paid their money, they took their chances.

    I have little sympathy for Godfrey, his shareholders and his bondholders. I do feel sorry for those will suffer collateral damage: the employees, the suppliers who have not been paid for goods and services rendered, the landlords who will not collect their rent.

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  3. Re “Other new and better enterprises will arise,” they’re here already.

    The Tyee and the National Observer, both out of Vancouver, are doing an excellent job, journalism-wise. And, for old-style, let’s not forget the Globe & Mail which, despite its weaknesses (the sports section in the “Ottawa” edition, e.g., is a daily insult), does a remarkable job in both reporting and investigative work; excellent web site too. Locally, besides The Bulldog, outfits like Apartment 613 have long ago filled gaps in fields abandoned by the Postmedia products. Even the daily Metro and the weekly Metroland papers often have more and better information than the Citizen or Sun. I agree: Let them die.

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    1. EajD:

      Metro and OBJ have improved markedly.

      CBC’s online product is improving as well. Less two-minute video and more online-tailor material.

      That said, it would be nice to see a hard-news local product appear. But that is very costly and difficult to do.

      cheers

      kgray

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