By Press Progress, May 3
Postmedia has spent the COVID-19 pandemic railing against emergency government subsidies as “lavish handouts” for “welfare slackers.”
But it turns out that Postmedia has not only lavished itself with tens of millions of dollars in bailout money and emergency subsidies — the company also says those taxpayer-funded handouts are, in fact, “key pillars” of its business strategy.
The right-wing media conglomerate offered the head-scratching admission to investors in its recently released 2020 annual report.
Writing to shareholders, CEO Andrew MacLeod said Postmedia would likely not be profitable if not for over $35 million in federal “government support”: