La Presse to become nonprofit

La Presse is to become a nonprofit after 50 years of ownership by Power Corporation. Or, as QMI puts it, Power Corp. is abandoning it.

Update: Steve Faguy’s got an excellent analysis of the change and how it will be done. He also notes that odd QMI piece Monday about some business guy wanting to buy La Presse. Maybe the nonprofit announcement was made to circumvent such a sale?

Also, Toula Drimonis analyzes the situation.