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Postmedia to buy minority stake in The Logic

Canadian news media company Postmedia Network Inc. will make a strategic equity investment for a minority position in digital media outlet The Logic Inc.

The companies will also partner on various initiatives, including content licencing, marketing projects and events, according to a May 22 news release. The partnership will allow The Logic to hire more reporters and extend its reach.

"As a result of the Postmedia partnership, a selection of The Logic's journalism will appear in newspapers and on local news sites in cities and towns across Canada," David Skok, CEO & Editor-in-Chief of The Logic wrote in a May 22 blog post.

The Logic will continue to operate independently following the investment. The companies expect the transaction, which is subject to certain closing conditions, to conclude in the summer.

Postmedia is a wholly owned subsidiary of Canadian newsmedia company Postmedia Network Canada Corp.