The CEO of Postmedia is defending a decision to shutter 24 newspapers — 15 of them in eastern Ontario — by mid-January. 'It's kind of sad to watch the mighty newspaper industry of decades ago suddenly fall because everybody is, rightfully, going to digital.' - Paul Godfrey, Postmedia CEOThe cuts are part of a general decline within the traditional newspaper industry, Postmedia CEO Paul Godfrey told CBC Radio's Ottawa Morning. "It's kind of sad to watch the mighty newspaper industry of decades ago suddenly fall because everybody is, rightfully, going to digital," he said. Can't compete with Google, FacebookWhile Postmedia's digital revenue is growing, Godfrey said much of the online revenue goes to large multinational corporations like Google and Facebook.

Source: CBC News November 28, 2017 15:33 UTC