Andrew MacLeod Named Postmedia President and Chief Executive Officer; Paul Godfrey, Executive Chair

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TORONTO–(BUSINESS WIRE)–Postmedia Network Canada Corp. (“Postmedia” or the “Company”) is pleased
to announce the appointment of Andrew MacLeod to the role of President
and Chief Executive Officer. It is expected that Mr. MacLeod will be
appointed to the Board of Directors in the near term.

“It is with tremendous confidence that I recommended to the Board of
Directors that the timing is right for Andrew MacLeod to take on the
Chief Executive Officer position at Postmedia continuing the succession
plan that included his appointment to President and Chief Operating
Officer in October, 2017,” said Paul Godfrey, Executive Chair. “Over the
past fifteen months, since taking on the role of President, Andrew has
championed a strategy that has delivered continued growth in new
revenues and successful structural transformation that will continue to
put Postmedia on a strong footing at a critical time for the industry.”

As Executive Chair, Mr. Godfrey will serve as a member of the senior
management team and advisor to the President and CEO and continue to
provide leadership for the Board of Directors.

As President and CEO, Mr. MacLeod will have direct responsibility for
all aspects of Postmedia’s operations including more than 140 brands
across multiple media platforms.

“Postmedia’s Board of Directors is confident in the traction and
direction of the Company’s strategy and unanimously supports Andrew
MacLeod’s appointment as the new President and Chief Executive Officer,”
said Peter Sharpe, Lead Director.

“I am grateful to Paul Godfrey and Postmedia’s Board of Directors for
their confidence and ongoing support,” said Andrew MacLeod, President
and Chief Executive Officer. “Paul has led this company since its
inception through tremendous change and important strategic initiatives
and Postmedia will continue to benefit from his industry insight as we
move forward. Looking ahead, we remain committed to accelerating our
two-pronged strategy – to extend the legacy runway and grow new digital
revenue as we continue to face a disrupted media ecosystem head on. We
have exceptional teams in place, dedicated to the future of Postmedia
and I am proud to work alongside them to deliver on our aggressive
targets, together.”

About Postmedia Network Canada Corp.

Postmedia Network Canada Corp. (TSX:PNC.A, PNC.B) is the holding company
that owns Postmedia Network Inc., a Canadian newsmedia company
representing more than 140 brands across multiple print, online, and
mobile platforms. Award-winning journalists and innovative product
development teams bring engaging content to millions of people every
week whenever and wherever they want it. This exceptional content, reach
and scope offers advertisers and marketers compelling solutions to
effectively reach target audiences. For more information, visit www.postmedia.com.

Forward-Looking Information

This news release may include information that is “forward-looking
information” under applicable Canadian securities laws. The Company has
tried, where possible, to identify such information and statements by
using words such as “believe,” “expect,” “intend,” “estimate,”
“anticipate,” “may,” “will,” “could,” “would,” “should” and similar
expressions and derivations thereof in connection with any discussion of
future events, trends or prospects or future operating or financial
performance. Forward-looking statements in this news release include, but
are not limited to,
statements with respect to the structural
transformation of the Company and new revenue growth initiatives,
including digital revenue growth. By their nature, forward-looking
information and statements involve risks and uncertainties because they
relate to events and depend on circumstances that may or may not occur
in the future. These risks and uncertainties include, among others:
competition from digital and other forms of media; the effect of
economic conditions on advertising revenue; the ability of the Company
to build out its digital media and online businesses; the failure to
maintain current print and online newspaper readership and circulation
levels; the realization of anticipated cost savings; possible damage to
the reputation of the Company’s brands or trademarks; possible labour
disruptions; possible environmental liabilities, litigation and pension
plan obligations; fluctuations in foreign exchange rates and the prices
of newsprint and other commodities. For a complete list of our risk
factors please refer to the section entitled “Risk Factors” contained in
our annual management’s discussion and analysis for the years ended
August 31, 2018 and 2017. Although the Company bases such information
and statements on assumptions believed to be reasonable when made, they
are not guarantees of future performance and actual results of
operations, financial condition and liquidity, and developments in the
industry in which the Company operates, may differ materially from any
such information and statements in this press release. Given these risks
and uncertainties, undue reliance should not be placed on any
forward-looking information or forward-looking statements, which speak
only as of the date of such information or statements. Other than as
required by law, the Company does not undertake, and specifically
declines, any obligation to update such information or statements or to
publicly announce the results of any revisions to any such information
or statements.

Contacts

Media Contact
Phyllise Gelfand
Vice President,
Communications
(416) 442-2936
pgelfand@postmedia.com

Investor Contact
Brian Bidulka
Executive Vice President
and Chief Financial Officer
(416) 383-2325
bbidulka@postmedia.com

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