In 1984, after he left politics he joined the Toronto Sun as publisher and CEO. In 1991 he succeeded founder Doug Creighton as president and chief operating officer of Toronto Sun Publishing. In 1992 he became CEO of the Toronto Sun Publishing replacing founder Doug Creighton. Creighton was forced to resign by the board of directors and the parent company, Maclean Hunter. In 1998, Godfrey organized a deal with Conrad Black to swap the Financial Post with four daily newspapers in southwestern Ontario. These included the Hamilton Spectator, Kitchener-Waterloo Record, Guelph Mercury, and Cambridge Reporter. In October 1998, Sun Media was approached by Torstar Corporation in an unsolicited takeover bid for $748 million. Godfrey said he was surprised by the move. Two months later Quebecor Media Inc. made a higher and eventually more successful bid for a reported $983 million. Godfrey was a key figure in seeking out Quebecor as an alternative buyer. After the sale, Quebecor, initially heralded as a 'white knight' buyer, forced Godfrey to cut 180 jobs from his newspaper. In November 2000, Godfrey announced that he was stepping down as CEO of Sun Media. There was some speculation that he was uncomfortable while under the control of Quebecor. He remained on the board of Sun Media.
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Famous quotes containing the word sun:
“But it is fit that the Past should be dark; though the darkness is not so much a quality of the past as of tradition. It is not a distance of time, but a distance of relation, which makes thus dusky its memorials. What is near to the heart of this generation is fair and bright still. Greece lies outspread fair and sunshiny in floods of light, for there is the sun and daylight in her literature and art. Homer does not allow us to forget that the sun shone,—nor Phidias, nor the Parthenon.”
—Henry David Thoreau (1817–1862)