Transcontinental Inc. Receives Clearance from the Competition Bureau to Acquire the Sun Media Weekly Newspapers in Quebec
28 May 2014 - 11:10PM
Marketwired Canada
Transcontinental Inc. (TSX:TCL.A)(TSX:TCL.B)(TSX:TCL.PR.D) announced today that
it has received clearance from the Competition Bureau to acquire the 74 weekly
newspapers owned by Sun Media Corporation in Quebec and their related Web
properties, a transaction announced on December 5, 2013. Under the terms of the
agreement with the Competition Bureau, the Corporation must put up for sale, for
a 60-day period, 34 of the 154 weekly newspapers in its portfolio, including
some that are part of the transaction with Sun Media. Most of the weekly
newspapers being put up for sale were launched in recent years.
The sale process has been placed in the hands of a third party, Mallette LLP, a
professional chartered accountant firm, who will be acting totally independently
of Transcontinental Inc.
The following is the list of weekly newspapers being put up for sale, in
alphabetical order.
Transcontinental Inc. (TC Media) - 12 weekly newspapers
Abitibi Express - Rouyn-Noranda, Rouyn-Noranda
Abitibi Express - Val d'Or, Val-d'Or
Chambly Express, Chambly
Chateauguay Express, Chateauguay
Courrier du Saguenay, including its regional editions: Courrier du Fjord,
Courrier de Jonquiere and Courrier de Chicoutimi
Edition Beauce Nord, Sainte-Marie
Point de vue Laurentides, Mont-Tremblant
Rive-Sud Express, Longueuil
Roussillon Express, La Prairie
Sorel-Tracy Express, Sorel-Tracy
Vallee du Richelieu Express, Mont-Saint-Hilaire
Valleyfield Express, Valleyfield
Sun Media - 22 weekly newspapers
Agri-Vallee, Valleyfield
La Voix de la Matanie, Matane
La Voix Gaspesienne, Matane
L'Echo de Laval, Laval
L'Echo de la Rive-Nord, Sainte-Therese
L'Echo de Repentigny, Repentigny
L'Echo de Saint-Jean-sur-Richelieu, Saint-Jean-sur-Richelieu
L'Echo de Shawinigan, Shawinigan
L'Echo de Trois-Rivieres, Trois-Rivieres
L'Echo de Victoriaville, Victoriaville
L'Echo du Nord, Saint-Jerome
Le Courrier du Fleuve, Rimouski
Le Journal de Joliette, Joliette
Le Journal de Magog, Magog
Le Journal de Saint-Hubert, Saint-Hubert
Le Point du Lac-Saint-Jean, Saint-Felicien
Le Progres Echo, Rimouski
Le Reveil, Saguenay
Le Rimouskois, Rimouski
Le Riverain, Sainte-Anne-des-Monts
L'Impact de Drummondville, Drummondville
Pub Extra Magazine, Laval-Laurentides
Conclusion of transaction
Over the next few days, in conjunction with the sale of weekly newspapers, Sun
Media and Transcontinental Inc. will finalize their transaction. During this
period, the Sun Media weekly newspapers will remain the property of Sun Media.
Once the transaction has been completed, Transcontinental Inc. will become the
owner of all acquired Sun Media weekly newspapers, including those put up for
sale.
Once the sale period has expired, Transcontinental Inc. will review its
portfolio in order to ensure the sustainability of the weekly press in Quebec,
by continuing to offer relevant local information on a multitude of platforms,
in all the regions of the province where it is present.
"We are pleased with this decision, which allows us to close the transaction and
combine the strengths of both companies," said Francois Olivier, President and
Chief Executive Officer of Transcontinental Inc. "We are enthusiastic that we
will soon be able to welcome the employees of the Sun Media weekly newspapers in
Quebec. Despite having to put some weekly newspapers up for sale, this
transaction will add about $20 million to the operating earnings before
amortization of Transcontinental Inc. and further advance the local
multiplatform offering for businesses and communities."
About TC Transcontinental
Largest printer and a leading provider of media and marketing activation
solutions in Canada, TC Transcontinental creates products and services that
allow businesses to attract, reach and retain their target customers. The
Corporation specializes in print and digital media, the production of magazines,
newspapers, books and custom content, mass and personalized marketing,
interactive and mobile applications, door-to-door distribution, and also
manufactures a range of flexible packaging products in the United States.
Transcontinental Inc. (TSX:TCL.A)(TSX:TCL.B)(TSX:TCL.PR.D), including TC
Transcontinental, TC Media, TC Transcontinental Printing and TC Transcontinental
Packaging, has over 9,000 employees in Canada and the United States, and
revenues of C$2.1 billion in 2013. Websitewww.tc.tc.
FOR FURTHER INFORMATION PLEASE CONTACT:
Media: Nathalie St-Jean
Senior Advisor, Corporate Communications
TC Transcontinental
514-954-3581
nathalie.st-jean@tc.tc / www.tc.tc
Financial Community: Jennifer F. McCaughey
Senior Director, Investor Relations and
External Corporate Communications
TC Transcontinental
514-954-2821
jennifer.mccaughey@tc.tc / www.tc.tc
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