FP Newspapers Income Fund (the Fund) is an unincorporated open-ended limited purpose trust. The activities of the Fund includes the indirect ownership of interests in other newspapers and media (radio, television, magazines, and Internet) businesses. The Fund has a wholly owned subsidiary, FPCN Holdings Trust. It owns a 49% interest in FP Canadian Newspapers Limited Partnership (FPLP). FPLP publishes, prints, and distributes daily and weekly newspapers and specialty publications, delivers advertising materials in the Manitoba and Northwestern Ontario markets, and provides commercial printing services. FPCN General Partner Inc. (FPGP) is the managing general partner of FPLP and the administrator of the Fund.