Former Saltwire newspaper buildings still on the market in N.S. months after Postmedia takeover

Sale of Saltwire Network Buildings Still Pending

Seven months after the sale of Atlantic Canada’s largest media company to Toronto-based Postmedia, there are still some loose ends — namely, the buildings that used to house the newspapers that were part of the Saltwire Network.

While the media outlets continue to operate, employees are working from home.

In a recent report to the Nova Scotia Supreme Court, the companies overseeing the sale of Saltwire assets said none of the buildings have yet to change hands. They want a stay of proceedings granted when Saltwire’s financial problems became public to be extended to the end of June.

There had been a tentative deal to sell the Cape Breton Post building on George Street in Sydney, N.S., but lawyers representing the potential buyers said last month their clients were backing out of the deal and forfeiting their $50,000 deposit.

The building that was home to the Yarmouth Vanguard remains on the market with a listing price of $350,000. In December, the real estate company that has been offering the building for sale had its contract extended. The building has been leased for one year to generate revenue while the search continues for a buyer.

One of the biggest assets left over from the sale of the chain was the building that housed the printing presses for The Chronicle Herald. The building in Bedford was listed for sale with a deadline of Nov. 20, 2024.

The company handling the sale entered into negotiations with a potential buyer, but the buyer wanted to wait until the presses were removed from the building. That’s expected to be completed by the end of this month.

In the meantime, the building remains on the market.