Postmedia sells off Infomart

The proposed $38-million deal sees the media monitoring division sold to Meltwater News Canada.
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The Postmedia Network has announced a deal to sell its media monitoring division, Infomart, to media intelligence company Meltwater News Canada for $38.25 million.

According to a release, the net proceeds from the deal will be used for debt repayment at Postmedia.

Infomart’s media monitoring business, direct feed business, professional services operations and client relationships are included in the deal, which is expected to close on Aug. 15.

Andrew MacLeod, EVP and COO at Postmedia, said in the release that the transaction allows the company to pay down debt and “focus on core areas of the business.”

Infomart was grouped with Postmedia Labs in the fall of 2015 to launch Postmedia Content Works, designed as a single source for creating content, deploying it within the Postmedia Network and behind, and evaluating its impact through a measurement platform. A representative from Postmedia said that Content Works will still operate post-sale.

This week has been a busy one for Postmedia, beginning with the announcement that it would be stop printing the Monday edition of the National Post indefinitely as of July, replacing it with an online edition.

The media company also announced the launch of a standalone Financial Post app, a redesign of the Financial Post website  as well as updates for for the National Post‘s app and site. The mobile-focused digital refreshes include sticky ads that stay in place as the viewer scrolls down a page, a move that Josh Merchant, VP of product at Postmedia, told MiC will improve viewability. The company wouldn’t disclose what its current viewability rate is.

Merchant said the goal  isn’t to replace the print products with digital ones, but to encourage a habitual nature of checking the online properties.

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