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Edition: U.S. Article Comments (0) Follow Reuters Facebook Twitter RSS YouTube Read Mother who withheld medicine guilty of attempted murder 12:55pm EDT First shots mark 150 years since start of Civil War 4:11pm EDT Questioning of Obama's birth in U.S. should stop: sister 1:42pm EDT Japan says nuclear crisis stabilizing, time to rebuild | 4:39pm EDT Cisco kills Flip camera in first revamp step 4:50pm EDT Discussed 140 Reid says Republicans want shutdown to close clinics 129 China tells U.S. to quit as human rights judge 115 Obama, Congress struggle to find budget deal Watched South Korean "super gun" packs hi-tech killing power Mon, Feb 14 2011 X-47B - the future of autonomous aerial warfare Fri, Feb 11 2011 Japan raises nuclear crisis level 2:26am EDT SMALL BUSINESS Do fries go with that app? Worried about how many calories you are going to consume in a serving of fries? A new iPhone application may help. After taking a picture of the meal with the phone, the app gives a calorie read-out almost instantly Full Article Caribbean rum maker looks to tap U.S. market Startup targets online vacation rentals Canada's Postmedia trims for digital age Tweet Share this By Alastair Sharp TORONTO (Reuters) - The man in charge of Canada's largest chain of newspapers, Paul Godfrey, is reshaping his titles for the digital age in a cost-cutting drive that will bring extensive retraining and more job cuts. Godfrey,... Email Print Related News Markets fall on earnings caution, energy selloff Mon, Apr 11 2011 With no budget deal, government shutdown looms Fri, Apr 8 2011 Wall Street dips on Japan aftershock; retailers rise Thu, Apr 7 2011 Special report: How News Corp got lost in Myspace Thu, Apr 7 2011 Obama to meet Reid and Boehner for budget talks Wed, Apr 6 2011 Analysis & Opinion Can consumers solve what’s wrong with healthcare? Glencore shouldn’t need to lean on cornerstones Related Topics Technology » Media » Stocks By Alastair Sharp TORONTO | Tue Apr 12, 2011 2:45pm EDT TORONTO (Reuters) - The man in charge of Canada's largest chain of newspapers, Paul Godfrey, is reshaping his titles for the digital age in a cost-cutting drive that will bring extensive retraining and more job cuts. Godfrey, president and chief executive of Postmedia Network Canada Corp, said journalists and others would have to change their ways in the transformation of the company, created last July to take over the newspaper assets of bankrupt Canwest. "Reporters are going to have to become more than just a reporter," he said in an interview, pointing out that Postmedia's print journalists are already armed with video cameras and send clips back from the field for the website. Godfrey said he expects a quarter of ex-Canwest staff to be retrained for the "digital-first" media outlet, which will get up to a quarter of its revenue from digital platforms within four years. Postmedia websites, smartphone and tablets apps and other digital services bring in some 10 percent of sales today. But not everyone will want to learn new tricks. "A lot of people who have done a certain job for so long do not want to learn anything new, and the older you get, the more reluctant you are to change," he said. Soon after taking over, Postmedia, whose papers include the flagship National Post, as well as the Montreal Gazette, Ottawa Citizen and Vancouver Sun, cut more than one in ten jobs. It now has fewer than 4,800 employees. It is bringing its country-wide business operations into a Toronto headquarters and expects to leave only one or two back office staff in other cities. It has offered buyouts across the country, including at the National Post. Much of the advertising production has been moved to the Philippines and India, its call center is in Dominican Republic and it closed a printing plant after a contract to produce the rival Globe and Mail expired. SKIN IN THE GAME Godfrey is backed by a collection of 17 hedge funds that hold shares via GoldenTree Asset Management. Merrill Lynch Canada holds a sizable stake, and Godfrey has encouraged senior staff to also take stakes in Postmedia. "If you've got your own skin in the game, managers will push harder to cut every cost they can and chase every penny of revenue they can," he said. The company made revenue of C$242.5 million in the three months to end-February, a slight decline on a year ago under the Canwest management. It had a net loss of C$12.3 million as it booked restructuring costs. Postmedia must list shares by late July or face crippling conditions including the inability of advertisers to account for spending with the newspaper chain as a business expense. Under the terms of the Canwest buyout, Postmedia has to retain Canadian control of the newspapers, which include the Montreal Gazette, Ottawa Citizen and Vancouver Sun, and to list its shares publicly within a year. 1 2 Next Technology Media Tweet this Share this Link this Digg this Email Reprints We welcome comments that advance the story directly or with relevant tangential information. We try to block comments that use offensive language, all capital letters or appear to be spam, and we review comments frequently to ensure they meet our standards. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. Comments (0) Be the first to comment on reuters.com. Add yours using the box above. 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