It's an ugly business. Postmedia is carrying a debt of around $700 million. Can both papers actually hang on? It seems less and less likely.
Here's a CBC story on today's announcement of newsroom mergers across the country in four major markets.
http://www.cbc.ca/news/business/postmedia-job-cuts-1.3410497?cmp=rss
Although there were no layoffs announced in Vancouver there will apparently be buyout offers in the coming days. Expect to see some of your favourite reporters leaving the business.