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Globe and Mail quotes Niko Veilleux on the viability of the newspaper business should its debt be reduced

Reading Time 1 minute read
“Postmedia bond plunge signals end of Godfrey’s U.S. debt ‘noose’” by Ari Altstedter, Globe and Mail

Globe and Mail quotes Montreal lawyer Niko Veilleux on reducing the debt of Postmedia and the debt in the newspaper business.

“If you get rid of that debt or significantly reduce that debt I believe the newspaper business is a viable business,” said Niko Veilleux, a partner at Montreal law firm Fasken Martineau who represented Quebecor in the 2014 sale. He says a restructuring that converts Postmedia’s second-lien bonds into equity would be one way to do that. “This is an industry that’s declining, but it’s not disappearing.”