WINNIPEG, Manitoba — The CBC is putting Stone & Stone on hiatus for the summer.
The Canadian-owned and operated news network says the change comes as part of a restructuring that will see it shed 1,500 jobs.
“This is a very difficult time for Stone &amt; Stone and CBC Media Group and the people of Winnipeg,” chief executive officer Peter Stone said in a statement.
“We are working with our key stakeholders to identify what more we can do to support our communities and businesses.”
Stone said the change is the result of the company’s decision to shut down its satellite radio operation, as well as its plans to shutter the Globe and Mail newspaper and the CBC Winnipeg app.
“Stone &.; Stone has been a valued part of CBC Media since its inception and has been an integral part of the CBC’s mission for over 25 years,” he said.
CBC executives have been negotiating for months with the owner of the Globe &. “
As part of this change, Stone & amp; Stone will cease operations for the rest of the summer.”
CBC executives have been negotiating for months with the owner of the Globe &.
Mail, a Toronto-based publisher owned by media mogul Rupert Murdoch, to sell the newspaper, which has been the mainstay of the Canadian media landscape since 1996.
The news network, which is owned by Rogers Communications Inc., will continue to offer the newspaper online and on satellite radio.
CBC says the Globe will continue with its digital strategy, but that it will be the new owner of The Canadian Financial Post, the Canadian Herald, and The Canadian Journal.
CBC said it will also invest $10 million to expand and modernize its digital operations.
Stone &s; Stone, meanwhile, has been operating a newspaper and website in Winnipeg since 1996 and has offices in Toronto and Vancouver.
The Globe &amtd; Mail and The CBC Winnipeg apps are owned by the same company, and both operate in a digital landscape that was built on the web.
“With this decision, CBC Media and the Globe Media Group have decided to close Stone &ams; Stone,” Stone said.
Stone said Stone < Stone has about 700 employees and a budget of $3 billion.
He added that the company is continuing to invest in its media and technology platforms to better serve its customers.
Stone has previously said that Stone &ing; Stone is not in any financial difficulty.
“In this time of financial turmoil, the financial challenges we are facing are unique and difficult.
Stone is doing what it takes to survive and to thrive in these challenging times,” Stone added.
The move comes as Stone & amtd; Stone’s satellite radio operations, including the CBCs digital operations, are in turmoil.
Stone, who is also a broadcaster and former chief of staff for Prime Minister Justin Trudeau, said the move will put the future of the newspaper and its website at risk.
“I want to reassure our readers that we will continue our mission and continue to provide them with the highest quality of journalism,” Stone wrote in a tweet.
Stone and the media group have been at loggerheads for the last several years, with Stone calling the Globe’s content “unbalanced” and saying the Globe has no “right to tell what is and is not news.”
The Globe has been embroiled in a bitter feud with CBC Radio One and CBC’s news network The National.
CBC announced last week that it would cease operations of the broadcaster’s flagship program, Morning Edition, and CBC News Network after the network suspended the CBC.
CBC News, which features some of the most popular programs in the country, was axed from its lineup for the fall.
CBC also announced it was pulling the plug on its popular podcast and digital-only radio show, the CBC Radio News Network, as part for the “challenging” news environment it faced.
“At this time, we are no longer in a position to continue to operate The Canadian News Network,” CBC News said in its announcement.
CBC is in the midst of a reorganization.
In January, the broadcaster announced it would slash some 1,400 jobs.
In February, the company announced it will cut 3,500.
Stone dismissed that news as “ridiculous” and “ridical and unbalanced.”
“We’re a family company.
We have a lot of kids and we have a big family.
And we have our own way of doing things,” he told CBC Radio’s The House in an interview.