Canadian Newspaper Makes $2 Billion, 18 Year Commitment To Print

printing press

Print is alive and well in Canada, it seems. 

Toronto newspaper Globe and Mail – owned by the same Thomson family that owns Thomson Reuters – just announced a $2 billion, 18 year commitment to improving its printing presses.

Weird, right?

Stateside, the grey Lady just reported circulation revenues declined 4.8% in the last quarter.

“The Canadian newspaper market hasn’t been as overwhelmed by digital competitors as the U.S. market,” an American working in Canadian newspapers tells the New York Times.

“That may happen. But there’s still a much higher reliance on the national papers and metro papers in Canada. It’s almost cultural.”

We checked, and yes, they have American newspaper-killer Craigslist in Toronto and the rest of Canada. What’s going on here?

NOW WATCH: Briefing videos

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.