The Canadian Press, Canada's national news agency that has been run as an industry co-operative, may turn itself into a profit-making company. It is seeking investment from media companies as part of its attempt to restructure. CP's major financial headache is a shortfall in pension requirements.
If it can solve that problem then CP's hope is to attract new capital to expand further into digital platforms, such as online video and mobile news feeds for cellphones and BlackBerrys. CP's chairman, Phil Crawley, the publisher of The Globe and Mail, says it is possible that investors from outside the industry will be required to come aboard. (Via Globe & Mail)
