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

Just Posted

Proposed new neighbourhood clears first municipal hurdle in Tofino

“We have a very urgent need for housing in this community.”

Tofino approves two pot shop permits

West Coast Cannabis Store at 1182 Pacific Rim Highway and Daylight Cannabis at 1-671 Industrial Way.

Ucluelet approves RVs as temporary housing solution for fish plant workers

“We are hoping for the best. Everybody has to support each other here.”

Ucluelet Chamber of Commerce champions unique staff housing solution

“It was a win-win situation for all of us.”

Tofino mayor cheers provincial government’s plastics survey

Mayors of Tofino, Victoria, Squamish and Rossland collaborate on letter.

VIDEO: Ride to Conquer Cancer rolls into Hope

Thousands of cyclist descend on small town for annual cancer fundraiser

VIDEO: Ride to Conquer Cancer rolls into Hope

Thousands of cyclist descend on small town for annual cancer fundraiser

Island murder victim’s mom expresses outrage over mental fitness decision of the accused

Smith vows to keep fighting until justice served for Descoteau

B.C. VIEWS: Pipelines set to roll as federal politicians posture

Projects to drive B.C., Canadian economy in years ahead

Racist confrontation in Richmond parking lot caught on camera

Woman can be heard yelling racial slurs, swear words at woman in apparent parking dispute

Vancouver Island man dead after reported hit-and-run incident

Oceanside RCMP seek public’s help gathering information

B.C. Lions fall to 1-9 after 13-10 loss to Ticats

Lowly Leos have dropped six straight CFL contests

VIDEO: B.C. woman meets biological mother, 38 years later

Mother never gave up hope of finding daughter, despite all the obstacles

B.C. man who died after rescuing swimmer was known for helping others

Shaun Nugent described as a dad, a coach, a hero and ‘stand-up guy’ at celebration of life

Most Read