Montreal, September 3, 2014 – Transcontinental inc. (TSX: TCL.A, TCL.B, TCL.PR.D) today announces the conclusion of the sale process of the 33 weekly newspapers targeted by the Competition Bureau as part of the June 1 transaction 2014 for the acquisition of the 74 weekly newspapers of Sun Media Corporation in Quebec and the related web properties. Of the 33 newspapers put on sale, 14 have found takers. Of these, 3 will remain in operation as weeklies and 11 will now be accessible only online.
The Journal de Saint-Hubert (Saint-Hubert) and Le Rive-Sud Express (Longueuil) have found takers from Les Mediadores de la Rive-Sud, while l’Echo du Nord (Saint-Jerome) is bought by Éditions Blainville Deux-Montagnes. For its part, Néomédia buys the following newspapers and intends to use them in online format only: Agri-Valley (Valleyfield), Chambly Express (Chambly), The Journal of Joliette (Joliette), The Point of Lac-Saint-Jean (Saint -Félicien), The Awakening (Saguenay), The North Shore Echo (Sainte-Thérèse), The Laval Echo (Laval), The Trois-Rivières Echo (Trois-Rivières), Pub Extra Magazine ( Laval-Laurentides), Sorel-Tracy Express (Sorel-Tracy) and Vallée-du-Richelieu Express (Mont-Saint-Hilaire).
Remember that on June 1, the Competition Bureau and Transcontinental inc. have entered into a consent agreement providing for the sale of 33 weekly newspapers in its portfolio: 11 newspapers launched or acquired in recent years and 22 Sun Media newspapers, also having been created since 2010. All these newspapers are operated in markets where there are already several weekly newspapers.
Reorganization of the weekly network of Transcontinental inc. in Quebec
Following this announcement, Transcontinental inc. also announces that it is reorganizing its weekly newspaper portfolio and is ceasing to publish 20 of its titles today, most of which will be integrated with others held in each affected region. The decisions surrounding this reorganization have been made by ensuring that communities continue to receive relevant local information while ensuring that as many jobs as possible are saved. To view the list of titles that cease publication, please click here: http://bit.ly/1nWnwr1
The changes announced by this reorganization unfortunately lead to some 80 layoffs within the 1800-person team of TC Media Local Communities Solutions, the division of Transcontinental inc. who manages the weekly newspapers in Quebec. Transcontinental inc. would like to thank these employees for their dedication to the organization and made sure that they will be supported in their career transition.
TC Media’s consolidated newspaper portfolio in Québec now has close to 120 titles. For the complete list, please consult the document available on the company website at www.tc.tc
TC Transcontinental’s Profile
As the leading printer and market leader in marketing and marketing solutions in Canada, TC Transcontinental creates products and services that help organizations attract, reach and retain their target audiences. The Company specializes in print and digital media, producing magazines, newspapers, books and custom content, mass marketing and custom, mobile and interactive applications, door-to-door distribution, and produces range of flexible packaging in the United States.
Transcontinental inc. (TSX: TCL.A, TCL.B, TCL.PR.D), known under the trade names, TC Transcontinental, TC Media, TC Transcontinental Printing and TC Transcontinental Packaging, has over 9,000 employees in Canada and the United States, and its revenues were C $ 2.1 billion in 2013. Website www.tc.tc
Senior Corporate Communications Advisor
Telephone: 514 954-3581
Jennifer F. McCaughey
Senior Director, Investor Relations and External Communications of the Corporation
Telephone: 514 954-2821