Deal at Canada's Globe and Mail newspaper may avert strike

TORONTO, July 9 Wed Jul 9, 2014 4:20pm EDT

TORONTO, July 9 (Reuters) - Canada's Globe and Mail newspaper reached a tentative contract deal on Wednesday with the union representing its editorial, advertising sales and circulation workers, likely averting a work stoppage at the country's largest national daily.

The two sides met for two days with an independent mediator before reaching the deal. No details of the agreement will be released before a ratification vote is held, the union, Unifor, said.

"Good news. We have reached a tentative deal which the bargaining team unanimously recommends," Unifor said in a memo sent to workers. "The strike deadline is suspended until further notice. Continue to work normally."

The strike deadline had been Wednesday at 4 p.m. (2000 GMT).

The workers had rejected an earlier offer from management that the union said weakened job security and cut pay significantly for some advertising sales staff.

Employees will likely vote on the deal on Thursday afternoon, the memo said.

The Globe, like much of the traditional media, has struggled to offset shrinking print advertising revenue as marketing dollars follow readers online.

The Globe is Canada's largest newspaper by average daily paid circulation and is neck and neck with Torstar's Toronto Star for total circulation, according to Newspapers Canada, which compiles data provided by publishers.

The Globe is majority-owned by Woodbridge Co Ltd, a holding vehicle for Toronto's billionaire Thomson family. Telecom company BCE Inc owns a 15 percent stake in the newspaper.

Woodbridge is also the majority shareholder of Reuters' parent company, Thomson Reuters Corp.

(Reporting by Alastair Sharp; Editing by Peter Galloway)