POSTMEDIA, CLOTHIER REACH DEAL
Postmedia Network Inc. has struck a deal with Indochino to provide $40 million of advertising to the custom clothier in exchange for an undisclosed portion of its revenue in the Canadian market. Postmedia’s print and digital brands include national and regional newspapers such as the National Post and the Windsor Star. As part of its agreement with Vancouverbased Indochino, Postmedia will have the option to buy discounted shares of Indochino if the company goes public. “This is a great opportunity for two companies to leverage each other’s strengths in order grow their businesses,” said Andrew MacLeod, Postmedia’s president and COO. In 2016, Mogo Finance Technology Inc. signed a similar agreement for at least $50 million of promotional commitments from Postmedia in exchange for a percentage of revenue and rights to buy stock in the digital financial firm.