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

Truck crashed and dumped near Predator Ridge

Police are looking for two men in connection with a stolen vehicle

Salt and Brick chef to compete in Canada’s Great Kitchen Party

Chef James Holmes will compete in the fall competition

UPDATE: Police swarm residence near UBC Okanagan, arrest 3 men

Five RCMP cars were seen outside 755 Academy Way Wednesday evening.

UBC Okanagan makes addition to womens volleyball, basketball

Lucy Faba and Amaya Perry will join the Heat next season

VIDEO: Alberta man creates world’s biggest caricature

Dean Foster is trying to break the world record for a radio show contest

Man seriously injured after driving wrong way down B.C. highway

Police say the driver hit a transport truck, then another car after merging from the off-ramp onto highway

Candidates ready for Summerland Blossom Pageant

Royalty pageant will be held at Centre Stage Theatre on May 3 and 4

Shuswap society finds pets often suffer in domestic abuse cases

SPCA, SAFE Society working together to provide shelter for pets of women fleeing abuse

Should B.C. lower speed limits on side roads to 30 km/h?

Vancouver city councillor wants to decrease speed limits along neighbourhood side roads

Give Canada geese at Okanagan beaches a break

LETTER: Tour busses, full of photographers, local goose guides and an annual goose festival

Lawsuit eyed over union-only raise for B.C. community care workers

‘Low-wage redress’ leaves 17,000 employees out, employers say

Landlord of alleged Okanagan shooter recounts deadly day

Tony Friesen was working in one of the units of his Penticton building when he heard shots

Foreign national arrested in connection to thefts at YVR

A woman, 60, is being held in police custody as Richmond RCMP investigate

Most Read