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This week Gonez Media (GMI), announced the acquisition of Now Magazine, the print publication that has been Toronontians local news for the last 42 years. The size of the deal was not disclosed, and the publication will become NOW re-launching digital-only on January 17. Part of the strategy will leverage social media as they will create content on Instagram, TikTok, LinkedIn, Facebook and YouTube.
It is a surprising move in a world where sites such as blogto.com and Daily Hive have dominated the attention of consumers across Canada. The true test, for Now, will be if they can capture the attention of media buyers as its new owner looks to monetize the publication to ensure it grows.
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