TORONTO - The Globe and Mail says it will scrap its Labour Day newspaper this year because of a lack of advertising revenue.
Publisher Phillip Crawley said the cost of production and delivery for the paper, combined with the number of subscribers who are going away on vacation for the weekend, made it a bad business decision to publish.
"Labour Day is always one of the worst revenue days of the year, and just doing the simple math, it cost us way too much to produce the paper," he said in an interview Tuesday, noting that the decision was made after observing long-term revenue patterns for the period.
"This isn't a one-off fluke or that suddenly the industry's collapsing. It's a reality and we've just said this time it really doesn't make much sense."
Crawley made the announcement in an email to Globe subscribers that bluntly outlined the reasons for the decision.
Instead, the Globe says print subscribers can receive unlimited access to the newspaper's content on the Globe website, which put up a metered paywall last October.
The latest from regular columnists will also appear online, as per the usual schedule, Crawley said.
He acknowledged that some readers will be "disappointed" by the decision to forego a Labour Day newspaper, but added that subscribers would receive a credit that would extend the expiry date of their subscription by one day.
The company will also send customers a Labour Day eBook with insights on the news and trends worth watching into the fall season.
Earlier this month, the Globe announced it would no longer deliver its daily newspaper to Newfoundland and Labrador, as well as parts of British Columbia, due to high shipping expenses.
The newspaper's parent company holds an investment in The Canadian Press as part of a joint agreement with Torstar (TSX:TS.B) and the corporate parent of Montreal's La Presse.
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