Montreal, September 3, 2014 – Transcontinental Inc. (TSX: TCL.A, TCL.B, TCL.PR.D) announces the completion of the sale process involving 33 weekly newspapers as required by the Competition Bureau with respect to the June 1, 2014 transaction to acquire the 74 weekly newspapers of Sun Media Corporation in Quebec and their related Web properties. Out of the 33 newspapers put up for sale, 14 have found buyers. Of that number, three will continue to be published as weekly papers and 11 will now be published online only.
Le Journal de Saint-Hubert (Saint-Hubert) and Le Rive-Sud Express (Longueuil) have been bought by Les MÉDIAS de la Rive-Sud, and L'Écho du Nord (Saint-Jérôme) has been purchased by Éditions Blainville Deux-Montagnes. The company Néomédia is buying the following papers and plans to publish them online only: Agri-Vallée (Valleyfield), Chambly Express (Chambly), Le Journal de Joliette (Joliette), Le Point du Lac-Saint-Jean (Saint-Félicien), Le Réveil (Saguenay), L'Écho de la Rive-Nord (Sainte-Thérèse), L'Écho de Laval (Laval), L'Écho de Trois-Rivières (Trois-Rivières), Pub Extra Magazine (Laval-Laurentides), Sorel-Tracy Express (Sorel-Tracy) and Vallée-du-Richelieu Express (Mont-Saint-Hilaire).
On June 1, 2014, the Competition Bureau and Transcontinental Inc. concluded a consent agreement whereby 33 weekly papers from Transcontinental's portfolio would be put up for sale: 11 that had been launched or acquired in the past few years and 22 Sun Media newspapers, most of which had also been introduced since 2010. All these papers are published in markets which already have a number of other weekly newspapers.
Reorganization of the Transcontinental Inc. weekly papers in Quebec
In the wake of this announcement, Transcontinental Inc. is also announcing that it is reorganizing its weekly newspaper portfolio and effective today will stop publishing 20 of its titles, which for the most part will be integrated with other publications it holds in the same regions. The decisions related to the reorganization were made with a view to ensuring that communities continue to receive relevant local information and that the greatest possible number of jobs are kept. To see the list of titles that will no longer be published, follow this link: http://bit.ly/1qbr6Ta
Unfortunately, the changes required by this reorganization will involve about 80 layoffs out of the 1800 employees in the TC Media Local Solutions team, which is the TC Transcontinental Inc. division in charge of weekly papers in Quebec. Transcontinental Inc. wishes to thank these employees for their dedication to the company and has made arrangements for them to receive professional assistance in their career transitions.
TC Media now has a consolidated portfolio of close to 120 titles in Quebec. For the complete list, please see the document on the TC Transcontinental website at www.tc.tc
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, TCL.B, 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. Website www.tc.tc
Senior Advisor, Corporate Communications
Jennifer F. McCaughey
Senior Director, Investor Relations and External Corporate Communications