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Canadian Economic Press (CEP) Shuts Down

Canadian-Economic-Press-CEP Of all the websites about Canada’s economy, CEP was tops.

We were stunned and saddened to hear it was shutting its doors.  The website’s last day was April 30.

“Due to the current economic environment and financial crisis, CEP News made the difficult decision of winding down its operations,” said Paula Midena, Director of Sales and Marketing.

CEP covered economic news from a Canadian perspective and was invaluable for its reporting of Canada’s bond market, economic indicators, interest rates, and Bank of Canada predictions.

The company’s main revenue source was syndication, a tough business in which it competed against meganews organizations, Dow Jones and Reuters.  The company had distribution agreements with major websites (including Yahoo Finance and MSN Sympatico), newspapers, and global publications. It also sold advertising to an array companies and premium subscription memberships to forex and fixed income traders.

On a positive note, Midena says, “Some of our former employees are currently working on several exciting projects that will be unveiled in the next few weeks.”

“Stay tuned!” she told us.