The Globe and Mail is positive on the future of printed newspapers, and it is putting its money where its mouth is.

The newspaper is preparing for another redesign of its print edition to take advantage of new high-speed colour presses after awarding Transcontinental Inc. an 18-year, $1.7bn printing contract.

The transaction with Transcontinental comes as The Globe and a handful of other newspapers in Canada buck the North American trend of declining readership, circulation and ad revenue.

"There is a lot of mileage in high-quality newspapers," Globe publisher Phillip Crawley said in an interview yesterday after the announcement of the deal.

Phillip Crawley said that the deal is "a sign of our continued confidence in the future of the newspaper business."

Crawley said the redesign is planned for late 2010 or early 2011 and will include a reduction in the size of the paper by 13⁄4 inches to a height of 21 inches (53 centimetres).

The new printing press will allow for the newspaper to print in full colour on all pages and offer advertisers glossy newsprint stock.

"Colour on every page opens up design opportunities that previously didn't exist."

The last big redesign of The Globe - a division of CTVglobemedia Inc. - was launched in April, 2007.

Source: ReportonBusiness.com