Post­media sells Toronto print­ing plant for $30.5 mil­lion to re­pay debt

Cape Breton Post - - Business -

TORONTO - Post­media Net­work Inc. has struck a deal to sell a print­ing plant in Toronto to Rice Group, a com­mer­cial and in­dus­trial de­vel­oper, for $30.475 mil­lion that will be used to help pay down debt. The me­dia com­pany (TSX:PNC.A, TSX:PNC.B) ac­quired the fa­cil­ity in west Toronto as part of its agree­ment to buy Sun Me­dia’s English­language prop­er­ties in 2015. Post­media says it will en­ter into a lease for part of the prop­erty for up to 10 years.

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