Before beginning, just to clarify a few things: This is preliminary research. It is to set the stage for the next many months of research. Following this I will be breaking down individual corporations, and releasing to you other research that myself, Aedan and Eliot are working on. Also, people who’ve requested I look into the CBC and Radio-Canada… Those are publicly owned, there’s no story there. Whether you like or dislike them, I have no interest in that. This is a report on ownership. So here’s the CBC:
They’re the national public broadcaster.
The end.
Beyond the previous major players, Canada’s media landscape includes several mid-sized newspaper groups, digital-only media, and unique ownership models. This information is likely incomplete, and requires much more study over the coming months, since data for these smaller entities is much harder to acquire than the large players.
Black Press Group: A private company that is a major publisher of community newspapers, especially in Western Canada.
Black Press, based in British Columbia, publishes over 80 papers (notably Victoria News, Kelowna Capital News, many small-town weeklies in BC/Alberta) and some U.S. papers.
Black Press is family-run; David Black serves as Chairman, and the board is essentially the Black family and close associates. Here’s the direct answer: Carpenter Media Group (CMG) and Canso Investment Counsel each own exactly 50 per cent of Black Press Media’s equity. CMG manages the company, but ownership is split equally between them.
In March 2024, Carpenter Media Group completed the acquisition of Black Press Media alongside Canso Investment Counsel, forming new corporate entities in the U.S. and Canada to hold the assets. The two parties now “share total ownership equally,” meaning each holds 50 per cent.
Independent sources confirm that before the deal, Black Press was controlled by David Holmes Black (about 80.65%) with Torstar holding 19.35%. Post-acquisition, Carpenter Media Group is listed among the owners from 2024 onward.
However, there is much more research to do around Black Press specifically. Their ownership is somewhat nebulous after the acquisition.
Glacier Media: A Vancouver-based publicly traded media company (TSX: GVC) that owns newspapers and business publications in Western Canada.
Glacier’s holdings include daily papers like the Times Colonist (Victoria) and many weekly papers in BC, as well as business/news sites (Business in Vancouver, Western Producer in agriculture, etc.). Glacier Media is controlled by Madison Venture Corp. (a company of Sam Grippo), which owns ~54%.
The remainder is publicly held. Its board is chaired by Sam Grippo, with CEO Mark Melville also on the board. Other directors include Bruce Aunger, Geoffrey Scott, and Hugh McKinnon. Thus, Glacier is Canadian-controlled (Grippo is Canadian), and its governance blends insider control with public shareholders. Glacier receives some government support via postal subsidies for its publications and was eligible for the journalism tax credits. It’s a significant player in regional media and specialty trade publications. More research is required here, as less info is available.
SaltWire Network: SaltWire is the largest media group in Atlantic Canada, formed in 2017 when the owners of the Halifax Chronicle Herald acquired 27 newspapers in Atlantic Canada from Transcontinental.
SaltWire’s papers include the Chronicle Herald (NS), The Guardian (PEI), Telegram (St. John’s, NL), and numerous local papers in Atlantic provinces. It is privately owned by the Dennis family and Mark Lever – the Herald’s proprietors (Sarah Dennis and her husband Mark Lever each effectively own ~50% through family trusts).
SaltWire’s governance is family-centric, with Mark Lever serving as (until recently) CEO and President. In 2023–24, SaltWire faced severe financial difficulty and filed for creditor protection (insolvency). A Nova Scotia Supreme Court process is underway to sell or restructure the company. The major creditor is Fiera Capital, and even Postmedia and Torstar have been speculated as potential buyers.
The company did receive a one-time provincial loan in PEI for The Guardian’s printing press upgrade, and it leverages federal media support programs. The SaltWire board (when functional) was essentially the owners and a few Atlantic business people. The outcome of its insolvency will determine if Atlantic Canada’s papers remain locally owned or are absorbed by a larger chain.
St. Joseph Communications: A Toronto-based private media company that is now a major magazine publisher. St. Joseph is owned by the Gagliano family (CEO Tony Gagliano). In 2019, it acquired Rogers Media’s magazine portfolio – including Maclean’s, Chatelaine, Today’s Parent, and others. St. Joseph already published Toronto Life and Fashion magazines.
With the Rogers deal, it became Canada’s largest magazine publisher. It also operates printing and content marketing divisions. The company’s board is family-run; there’s no public disclosure, but the Gaglianos control it. St. Joseph’s publications benefit from the federal Canada Periodical Fund, a long-standing program that subsidizes Canadian magazines and non-daily newspapers.
Power Corporation (Gesca) – La Presse: Until 2018, La Presse (Montreal’s French-language daily) was owned by Gesca, a subsidiary of Power Corporation (controlled by the Desmarais family). In 2018, La Presse was dramatically restructured: Power Corp donated $50 million and transferred La Presse to a new non-profit entity.
Today, La Presse is published by a not-for-profit organization with no share capital. A independent board of directors oversees it, and any surplus must be reinvested in journalism. This change (enabled by a provincial law amendment) allows La Presse to accept donations and qualify for certain government support as a non-profit. The Desmarais family’s Power Corp no longer has ownership, though their endowment funds part of operations.
The Quebec government was more willing to offer funding to a non-profit model; indeed, La Presse has since obtained charitable status as a Registered Journalism Organization. Its board includes respected figures (e.g. former judges, business people) and operates much like a foundation.
Le Devoir (Montreal): Le Devoir is a French-language daily in Montreal. It has a trust-based ownership. In 1993, it was reorganized so that Le Devoir Inc. is owned by a **non-profit trust (“Les Amis du Devoir” and staff)**.
Essentially, it’s run by a shareholder trust to prevent any takeover. In 2023, Le Devoir further became a Registered Journalism Organization, allowing it to issue tax receipts for donations. Its board of directors (chaired by André Ryan in 2023) includes community representatives and is focused on preserving the paper’s mission. Le Devoir receives donations and some public funding (like tax credits), but remains a private non-profit enterprise – owned by its readers and employees via a trust, not by government or corporate conglomerates. This governance ensures Le Devoir can maintain editorial independence and a niche audience.
On the Trail is a Montreal based, wholly independant publication.
Great to see all this information compiled! In my small BC town, our only newspaper is owned by Glacier Media, which is a subsidiary of Sam Grippo's larger company - Madison Venture Corp. Big twist - Madison is deeply invested in real estate! I wrote a about this and the broader decline in local journalism across Canada, think you may find interesting:
https://www.bchistoryboy.ca/p/what-happened-to-local-news