Employees purchase a local Saskatchewan paper to keep it from closing
PRINCE ALBERT, Sask. — A group of employees at a Saskatchewan daily newspaper has reached a deal to purchase the outlet and run it as an independent publication, just over a week after a sister daily in the province closed.
Star News Publishing says it has sold the Prince Albert Daily Herald to a group of employees led by publisher Donna Pfeil.
“It’s an employee buyout. We’re all invested in keeping the paper going. We all love our jobs and are really passionate about them,” Pfeil said in an interview on Saturday.
Financial terms of the deal were not disclosed, but Star News says the transaction will close “in the very near term.”