Transcontinental Inc. Receives Clearance from the Competition Bureau to Acquire the Sun Media Weekly Newspapers in Quebec
May 28 2014 - 8:10AM
Marketwired
Transcontinental Inc. Receives Clearance from the Competition
Bureau to Acquire the Sun Media Weekly Newspapers in Quebec
MONTREAL, QUEBEC--(Marketwired - May 28, 2014) -
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 |
| Châteauguay Express, Châteauguay |
| Courrier du Saguenay, including its regional editions:
Courrier du Fjord, Courrier de Jonquière and
Courrier de Chicoutimi |
| Édition Beauce Nord, Sainte-Marie |
| Point de vue Laurentides, Mont-Tremblant |
| Rive-Sud Express, Longueuil |
| Roussillon Express, La Prairie |
| Sorel-Tracy Express, Sorel-Tracy |
| Vallée du Richelieu Express, Mont-Saint-Hilaire |
| Valleyfield Express, Valleyfield |
|
| Sun Media - 22 weekly newspapers |
| Agri-Vallée, Valleyfield |
| La Voix de la Matanie, Matane |
| La Voix Gaspésienne, Matane |
| L'Écho de Laval, Laval |
| L'Écho de la Rive-Nord, Sainte-Thérèse |
| L'Écho de Repentigny, Repentigny |
| L'Écho de Saint-Jean-sur-Richelieu,
Saint-Jean-sur-Richelieu |
| L'Écho de Shawinigan, Shawinigan |
| L'Écho de Trois-Rivières, Trois-Rivières |
| L'Écho de Victoriaville, Victoriaville |
| L'Écho du Nord, Saint-Jérôme |
| 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-Félicien |
| Le Progrès Écho, Rimouski |
| Le Réveil, 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
François 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.
Media: Nathalie St-Jean Senior Advisor, Corporate Communications
TC Transcontinental514-954-3581 nathalie.st-jean@tc.tc /
www.tc.tcFinancial Community: Jennifer F. McCaugheySenior Director,
Investor Relations andExternal Corporate CommunicationsTC
Transcontinental514-954-2821jennifer.mccaughey@tc.tc /
www.tc.tc
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