WASHINGTON President Joe Biden warned President Vladimir Putin of Russia on Tuesday that an invasion of Ukraine would result in heavy economic penalties for him and lead NATO to reposition its troops in Europe, measures that he said would go well beyond the West's response to Russia's annexation of Crimea seven years ago.
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Heritage Minister Steven Guilbeault did not respond to a request for comment on when new legislation on the file would be enacted.
Our hope is that Canada will start to emulate the level of economic activity we’re seeing out of the U.S.
Postmedia CEO Andrew MacLeod
MacLeod’s comments came after Postmedia, which owns the National Post and Financial Post, announced earnings for the three-month period ended May 31.
The company posted positive net earnings of $8.7 million in the quarter, reversing a net loss of $13.8 million a year earlier.
Revenue for the quarter was $111.7 million, a decline of less than a percentage point over the same period the prior year. While print advertising revenue declined by $3.2 million, or roughly eight per cent, total digital revenue was up $4.7 million, or close to 22 per cent.
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“Are we disappointed this legislation wasn’t enacted before the summer recess? Yes. But we do recognize that the government was dealing with a pandemic of significant proportions,” Andrew MacLeod said during an interview following the release of Postmedia’s third-quarter earnings Thursday. “We’re hopeful that it will be at the top of the list when the government resumes.”
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Try refreshing your browser, or Postmedia Network s chief executive renews call for legislation forcing tech giants to pay for content Back to video
MacLeod said that legislation similar to what has been implemented in Australia, forcing tech giants to pay media companies for their content, is needed as an “industry-wide solution” to level the playing field with Big Tech.