Bid for newspapers need "public trust" component

OTTAWA, April 23 /CNW Telbec/ - In the next few weeks as banks weigh which of five bidders will become the new owners of Canada's largest newspaper chain, considerations of public trust and responsibility to communities must be on the scales, says Canada's largest media union.

"We understand that banks want their money back, but ownership of major Canadian newspapers carries with it commitments beyond the bottom line," says Peter Murdoch, Vice-President, Media, for the Communications, Energy and Paperworkers Union.

"From Vancouver to Montreal this group of papers once had a voice which reflected the cities they served. That voice was damaged by Canwest as it cutback newsrooms. We now need ownership which will revitalize these papers.

"The bidders are not buying a screwdriver company, they are purchasing vital messengers which inform Canadians about all aspects of their lives - including the financial and investment community. Somewhere that has to be a critical part of the equation as the banks look to get repaid."

SOURCE Communications, Energy and Paperworkers Union of Canada

For further information: For further information: Peter Murdoch, 230-5200 ext. 260 or (905) 516-5720 (cell)

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Communications, Energy and Paperworkers Union of Canada

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