In 2019, six regional daily newspapers in Quebec, Canada were saved from closure after their parent company, Groupe Capitales Médias, announced it was filing for bankruptcy.
On the day that the bankruptcy was announced, the Quebec government authorized CAD $5 million in emergency aid to keep the presses running while the papers found a new owner.
“It’s impossible to envision the closure of six newspapers,” Pierre Fitzgibbon, Quebec’s economy minister, said at the time.
The six dailies — Le Soleil, La Voix de l’Est, La Tribune, Le Nouvelliste, Le Droit, and Le Quotidien — were then bought for the symbolic price of one dollar by the National Cooperative for Independent Information (Coopérative nationale de l’information indépendante, known as CN2i), a newly formed co-op. The plan was that it would initially be sustained by $21 million in funding from the provincial government and private stakeholders, all of whom were invested in continued access to information in the region, while it found its footing.
CN2i took over the operation of the six dailies, as well as employing the collective of 450 media workers. About 100 were laid off when CN2i ceased print operations of the weekday papers (they still print Saturday editions) and 15 to 20 people have since been hired in digital and reporting roles.