Mr. Speaker, as a result of his recently announced purchase, Conrad Black now owns daily newspapers in every province in Canada except two. This latest acquisition of 20 additional dailies boosts his ownership of Canadian newspapers to 58 from British Columbia to Newfoundland. This is 40 per cent of Canada's total daily newspaper circulation. Canadians are very concerned with such a concentration of control.
Canada has 104 daily newspapers. Of the 104 dailies only 14 remain independently owned. The Brockville Recorder & Times in my riding of Leeds-Grenville is one of these independently owned newspapers.
Friday, May 24 was truly black Friday in the Canadian newspaper business. Canadian tax legislation discourages foreign investment or ownership of newspapers or publications in this country. I am sure there is a rational explanation for the current rules controlling newspaper ownership in Canada, but if the rules continue to allow Canadian newspapers and their ownership to fall into fewer and fewer hands-