TORONTO — Postmedia Network Inc. plans to buy a minority stake in The Logic Inc. — a digital-only Canadian media outlet with a mandate to break tech-focused news through investigative journalism.
Financial details of the arrangement weren’t announced.
However, a joint statement says the two companies will partner on various initiatives including content licencing, marketing projects and events.
It says the investment — which is expected to close this summer after certain conditions are met — will provide Postmedia audiences access to The Logic’s in-depth analysis and reporting.
David Skok, The Logic’s chief executive and editor-in-chief, says in a separate blog posting that the partnership will allow it to remain independent and hire more reporters.
He says The Logic has already doubled its staffing level, and added a bureau in Ottawa, since the subscription-funded news outlet was launched less than a year ago.
Companies in this story: (TSX:PNC.A, TSX:PNC.B)
The Canadian Press