The Métro Journal is closing
Métro Média will declare bankruptcy.
The CEO of the media holding company, Andrew Mulé, announced in his social networks that the Métro Journal will cease to exist in its current form. In his opinion, which, incidentally, is shared by representatives of other Canadian media, this is a landmark event for the whole of Quebec and journalism in the country. Mulé concluded his statement with a call not to let the closure of the newspaper go unnoticed and to question the importance of regional media in today's society.
"The most important thing today is that the huge surge of solidarity felt around Métro does not turn into humility or indifference," he wrote. "Not a day goes by without someone talking to me about the importance of local media and its fundamental role in the vitality of our democracy. It is therefore time for a positive and peaceful debate, and it should be focused on the most important thing — the future of local media."
Métro has long been a pillar of local journalism in Montreal. In addition to it, many other local publications of the Métro Média holding company were suspended. This was an unbearable blow to the company's liquidity and the reason for the bankruptcy.
Métro Média was supported by popular Canadian media outlets such as Radio-Canada, CTV and La Presse. Journalists are actively discussing how the lack of government support plays a role in the closure. The bankruptcy of the media holding company would means job losses for more than 600 Canadians.
