TORONTO--(BUSINESS WIRE)--Postmedia Network Inc. (“Postmedia”) and Wise Publishing, Inc, (“Wise Publishing”) today announced that Postmedia has made a strategic equity investment for a minority position in Wise Publishing. The two companies will partner on various initiatives, such as providing Postmedia’s vast audience with access to increased personal finance content and tools while further building the MoneyWise brand.
Wise Publishing is a fast-growing Canada-based personal finance publisher. Its popular websites MoneyWise.com and MoneyWise.ca attract an audience of 10 million unique visitors monthly*.
“We are excited to be investing in Wise Publishing, an innovative digital media company which is complementary to our business,” said Mary Anne Lavallee, EVP and Chief Operating Officer at Postmedia. “The Wise Publishing team has proven success in the performance marketing space, leveraging relevant content, engaged financial audiences and innovative media technology.”
“It’s so critically important to find investors who understand your business, share your vision and can help your company realize its goals,” said Kyle Trattner, Wise Publishing CEO. “Postmedia enhances our incredibly strong group of experienced backers who align with our mission: to help millions of people make good financial decisions and get ahead in life.”
*Source: Internal data from Google Analytics.
About Wise Publishing, Inc.:
Wise Publishing, Inc. and its websites MoneyWise.com and MoneyWise.ca provide personal finance information, news and tools in ways that are clear, trustworthy and engaging. Readers throughout North America have come to count on the Toronto-based company to help them save money, find the best bank accounts, get the best mortgage rates and navigate many other money matters. Wise Publishing content has been featured by leading media outlets including MSN Money, Yahoo Finance, Financial Post, USA Today, Fortune, CNBC and Fox Business, among others.
About Postmedia Network Inc.:
Postmedia Network Inc., a wholly owned subsidiary of Postmedia Network Canada Corp. (TSX:PNC.A, PNC.B), is a news media company representing more than 120 brands across multiple print, online, and mobile platforms. Award-winning journalists and innovative product development teams bring engaging content to millions of people every week whenever and wherever they want it. This exceptional content, reach and scope offer advertisers and marketers compelling solutions to effectively reach target audiences.
This news release may include information that is “forward-looking information” under applicable Canadian securities laws. Postmedia has tried, where possible, to identify such information and statements by using words such as “believe,” “expect,” “intend,” “estimate,” “anticipate,” “may,” “will,” “could,” “would,” “should” and similar expressions and derivations thereof in connection with any discussion of future events, trends or prospects or future operating or financial performance. Forward-looking statements in this news release include, but are not limited to, statements with respect to the success of a strategic investment for Postmedia, both companies’ exploration of new business initiatives and the ability to access and engage certain audiences. By their nature, forward-looking information and statements involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future. These risks and uncertainties include, among others: the possibility that the initiatives described herein will not succeed; the impact of the initiatives on revenue; the possibility that Postmedia is unable to recoup its investment; competition from digital and other forms of media; the ability of Postmedia to build out its digital media and online businesses; the failure to maintain current print and online newspaper readership and circulation levels; possible damage to the reputation of Postmedia’s brands or trademarks; possible labour disruptions; possible environmental liabilities, litigation and pension plan obligations; fluctuations in foreign exchange rates and the prices of newsprint and other commodities. For a complete list of our risk factors please refer to the section entitled “Risk Factors” contained in our annual management’s discussion and analysis for the year ended August 31, 2020. Although Postmedia bases such information and statements on assumptions believed to be reasonable when made, they are not guarantees of future performance and actual results of operations, financial condition and liquidity, and developments in the industry in which Postmedia operates, may differ materially from any such information and statements in this press release. Given these risks and uncertainties, undue reliance should not be placed on any forward-looking information or forward-looking statements, which speak only as of the date of such information or statements. Other than as required by law, neither Postmedia nor Wise Publishing undertake, and both companies specifically decline, any obligation to update such information or statements or to publicly announce the results of any revisions to any such information or statements.
