Winnipeg, Manitoba--(Newsfile Corp. - November 21, 2019) - FP Newspapers Inc. ("FPI" or the "Company") is pleased to announce that Darryl Levy of Winnipeg, Manitoba has joined its board of directors, replacing Ronald N. Stern who is stepping down as a director and President. Robert Silver, a director of the Company and its predecessor income trust since 2002, will become the Chairman and President of the Company. Mr. Stern's ownership interests in the Company and FP Canadian Newspapers Limited Partnership will remain unchanged.
In commenting on the changes, Mr. Stern said, "After almost 18 years in the role, it is time for a more Winnipeg-based board of directors to lead the Company through the next stages of its development. I am extremely proud of the Free Press and its role in the City and the Province, and will continue to be committed to its ongoing progress. I am also very appreciative of the dedication and many accomplishments of the teams at the Winnipeg Free Press, Brandon Sun, Canstar Community News Division and The Carillon in Steinbach, and am confident that the changes we are making today will bring new ideas and approaches to our ongoing development. We are very pleased to have Mr. Levy join us in this journey."
Mr. Levy is President & Chief Executive Officer of Wynward Insurance Group, a wholly owned subsidiary of James Richardson & Sons Ltd. Mr. Levy is a member of the Board of Directors of Wynward, Vice Chairman of the Business Council of Manitoba, Co-Chair of the Major Corporations division of the United Way of Winnipeg, and a Trustee of the Richardson Foundation. Previous to joining Wynward in 2011, Mr. Levy was President-Western Canada of Rogers Communications. His appointment as a director is effective today.
FPI owns securities entitling it to 49% of the distributable cash of FP Canadian Newspapers Limited Partnership ("FPLP"). FPLP owns the Winnipeg Free Press, the Brandon Sun, and their related businesses, as well as the Canstar Community News division, the publisher of six community newspapers in the Winnipeg region, The Carillon in Steinbach with its related commercial printing operations and the Carberry News Express weekly publication. The businesses employ 366 full-time equivalent people in Winnipeg, Brandon, Steinbach and Carberry, Manitoba. Further information can be found at www.fpnewspapers.com and in disclosure documents filed by FP Newspapers Inc. with the securities regulatory authorities, available at www.sedar.com.
For further information please contact:
Daniel Koshowski, CFO
FP Newspapers Inc.
Phone (204) 771-1897
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