FP Newspapers Inc. (FPI) is the successor to the business of FP Newspapers Income Fund (the Fund). FPI owns securities entitling it to over 49% of the distributable cash of FP Canadian Newspapers Limited Partnership (FPLP). FPLP owns the Winnipeg Free Press, the Brandon Sun, and their related businesses, as well as the Canstar Community News division (Canstar), the publisher of over eight community and special interest newspapers in the Winnipeg region, The Carillon in Steinbach with its related commercial printing operations, and the Carberry News Express weekly publication. The Winnipeg Free Press publishes over six days a week for delivery to subscribers and single copy sales, and publishes a single copy edition on Sundays. The Brandon Sun publishes six days a week, serving the region with an average circulation of approximately 11,050 copies. The Canstar Community News publishes weekly with an average circulation of approximately 200,000 copies.

Sales Analysis. FP Newspapers Inc reported sales of C$5,000.00 (US$3.99 thousand) for the year ending December of 2012. This represents a very small increase of 0.0% versus 2011, when the company's sales were C$5,000.00 .