TC Media Acquires Sun Media's Portfolio of Community Weeklies
(firmenpresse) - MONTREAL, QUEBEC -- (Marketwired) -- 12/05/13 -- Sun Media and TC Media, a division of TC Transcontinental, announce the closing of a transaction whereby TC Media will acquire Sun Media's 74 Quebec weeklies for $75 million.
"The digital revolution has brought profound changes in local print media markets," noted Robert Depatie, President and CEO of Quebecor Media, the parent corporation of Sun Media. "Advertisers now have a multitude of platforms available to them that did not even exist little more than 10 years ago. We believe in the future of print media but we cannot ignore the new market realities".
"We are very pleased with this deal," Mr. Depatie continued. "We are ensuring these newspapers will stay in Quebec hands by selling them to another major Quebec company, Transcontinental."
"Acquiring Sun Media's 74 community papers in Quebec is in line with our strategy to strengthen the core assets of TC Media and develop a local digital media offering for businesses and communities," said Francois Olivier, President and CEO of TC Transcontinental. "This transaction will also give us the opportunity to continue building multiplatform offerings across all of Quebec by drawing on the talents of our people and on all those who work on the Sun Media community papers in Quebec. We are keen to welcome them into our midst soon."
The transaction is subject to approval by regulatory authorities, specifically the Competition Bureau. While it is under review, Sun Media will continue publishing the weeklies in question.
"After this transaction, Quebecor Media will remain an important player on the Quebec media landscape," said Mr. Depatie. "We will still be the owners of the dailies Le Journal de Montreal, Le Journal de Quebec and 24 Heures, as well as QMi Agency."
In conclusion, Mr. Depatie added: "We thank all the employees who have made it possible for these newspapers to inform the communities they serve over the decades. It is thanks to them that Quebecor Media has become the major corporation it is today."
About Sun Media Corporation
Sun Media Corporation, a subsidiary of Quebecor Media Inc., is Canada's largest newspaper publisher, based on paid and free circulation, publishing over 15.1 million copies each week. With 36 paid-circulation daily newspapers and 3 free dailies in 9 of the 10 largest urban markets in Canada, each with its own dedicated website, and almost 200 community newspapers, shopping guides and other specialty publications, Sun Media Corporation's English and French language newspapers and websites make it a leading provider of local news and information. Sun Media Corporation includes the activities of Osprey Media and Canoe.ca, an integrated enterprise offering e-commerce, information and communication services that operates a network of Internet portals that attracts over 10.5 million unique visitors per month in Canada, including 5.7 million in Quebec. Sun Media Corporation also provides a range of commercial printing and related services as well as distribution services for newspapers, flyers and magazines.
List of the 74 community papers acquired by TC Media
Contacts:
Martin Tremblay
Vice President, Public affairs
Quebecor Media
514-380-1985
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Datum: 05.12.2013 - 16:09 Uhr
Sprache: Deutsch
News-ID 322711
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MONTREAL, QUEBEC
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Books & Publishing
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