Postmedia providing $40M of advertising to Indochino

Postmedia providing $40M of advertising to Indochino for cut of revenue

Postmedia Network Inc. has struck a deal with Indochino to provide $40 million of advertising to the custom clothier in exchange for an undisclosed portion of its revenue in the Canadian market.

Postmedia’s print and digital brands include national and regional newspapers such as the National Post, the Vancouver Sun, the Ottawa Citizen and the Calgary Herald.

As part of its agreement with Vancouver-based Indochino, Postmedia (TSX:PNC.B) will also have the opportunity to buy discounted shares of Indochino if the company goes public.

It isn’t the first time Postmedia has exchanged advertising with a company for a cut of its future revenue.

In 2016, Mogo Finance Technology Inc. signed a three-year agreement for at least $50 million of promotional commitments from Postmedia in exchange for a percentage of revenue and rights to buy stock (TSX:MOGO) in the digital financial company.

It also forged a similar deal with Agility Forex Ltd.’s international payments and currency transfers services, though Postmedia did not disclose the duration of the deal, the value of the advertising space or the revenue it expects to receive.

The Canadian Press

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

Ladysmith man arrested in Saanich after towed sawmill draws attention

Police located the man thanks to social media and a keen-eyed witness

Killer whales cause a scene

WHALE OF A TALE Art Carlyle captured these images of killer whales… Continue reading

Ladysmith man shocked out of his seat after $50,000 Keno win

Larry Salmond plans to purchase a new RV with his winnings

Green Party pins Nanaimo-North Cowichan riding hopes on Istace

Leader Furstenau in town for the announcement of Chemainus businessman’s candidacy

Ladysmith shows strong support for COVID version of Tour de Rock

Senior donates $8,000 from proceeds of year-long bottle collections

B.C.’s top doctor encourages Halloween costumes to include masks

Dr. Bonnie Henry will soon be releasing guidelines on how to safely trick-or-treat this Halloween

Federal child-care plan could help Canada rebound from COVID-induced economic crisis: prof

A $2 billion investment this year could help parents during second wave of pandemic

Action demanded over death of First Nations youth in Abbotsford group home

Family and Indigenous organizations push for thorough investigation

B.C. nurses report rise in depression, anxiety, exhaustion due to pandemic

A new UBC study looks into how the COVID-19 response has impacted frontline nurses

Parksville pedestrian airlifted to hospital in Vancouver after nighttime collision

Police report man’s injuries were ‘significant’ but not life-threatening

Join Black Press Media and Do Some Good

Pay it Forward program supports local businesses in their community giving

Horgan frustrated as Transport Canada mandate for BC Ferry riders returns

Transport Canada reinstates rule that bans passengers from lower decks

Shoplifting suspect allegedly spits on worker at store in Nanaimo

Suspect became aggressive when confronted by loss prevention officer at Walmart, say RCMP

Reincarnation, baby! Music-making B.C. couple celebrate ‘miracle’ pregnancy

‘I (said) to Adam, ‘I really think this is your brother reincarnated,’ Elise Estrada says

Most Read