Sun Media sells 74 Quebec weeklies for $75 million to TC Transcontinental

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One day after announcing 200 layoffs, Sun Media has sold 74 Quebec dailies to Transcontinental for $75 million.

The deal, which is subject to approval from the Competition Bureau, was announced Thursday and will add approximately $20 million to TC Transcontinental's operating income before amortization. While the transaction is under review, Sun Media will continue publishing the weeklies and keep on the 600 staff working on the papers.

Both companies had dozens of community newspapers across Quebec, media blogger Steve Faguy said. “There was sort of a gentlemen’s agreement, or maybe just a fear of competition, so they didn’t encroach on each other’s territory. Until Quebecor decided it would expand into fast-growing areas and take on Transcon directly (in 2010).”


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The newspaper war effectively ended with the announcement of today’s deal, Faguy added.

“The digital revolution has brought profound changes in local print media markets,” said Robert Dépatie, president and CEO of Quebecor Media, the parent corporation of Sun Media, in a statement. “We believe in the future of print media but we cannot ignore the new market realities.”

However, Le Journal de MontréalLe Journal de Québec and 24 Heures, as well as QMI Agency, will remain with Quebecor.

Meanwhile, TC Transcontinental has also signed an agreement with Quebecor Media to print some of its magazines. 

“Acquiring Sun Media’s 74 community papers in Quebec is in line with our strategy to strengthen the core assets of TC Media,” said François 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.”

Here is the complete list of weeklies that will be sold:

Le Citoyen de la Vallée de l’Or

Val-d’Or, Amos

Le Citoyen de l’Harricana

Val-d’Or, Amos

Le Citoyen Rouyn Noranda

Rouyn-Noranda

Le Citoyen Abitibi Ouest

Rouyn-Noranda

Éclaireur Progrès

Saint-Georges

Hebdo Régional

Saint-Georges

Beauce Media

Sainte Marie

Les Actualités d’Asbestos

Asbestos

Le Plein Jour de Baie Comeau

Baie-Comeau

Le Port-Cartois

Port Cartier

Le Nord Est

Sept-Îles

Le Saint-Laurent Portage

Rivière-du-Loup

Le Mirabel

Saint-Jérôme

L’Information du Nord - Mont Tremblant

Tremblant

L’Information du Nord - Ste-Agathe

Sainte-Agathe

L’Information du Nord - Vallée de la rouge

L’Annonciation

L’Écho de la lièvre

Mont-Laurier

Le Peuple Lotbinière

Laurier Station

Le Peuple Lévis

Lévis / Montmagny

Courrier du Sud

Longueuil

Le Journal de Sherbrooke

Sherbrooke

L’Oeil Régional

Beloeil

La Seigneurie

Boucherville

Le Journal de Chambly

Chambly

Le Soleil de Salaberry-de-Valleyfield

Valleyfield

Le Reflet

Delson

Le Journal de St-Bruno

St-Bruno

Le Soleil du Samedi

Châteauguay

Le Soleil du Mercredi

Châteauguay

L’Information Ste-Julie

Ste-Julie

Le Journal St-François

Valleyfield

Les 2 Rives

Sorel

L’Écho Abitibien

Val-d’Or

La Frontière

Rouyn-Noranda

Businest

Rimouski

Le Transgaspésien

Gaspé

L’Avant-Poste

Amqui

L’Écho de la Baie

New-Richmond

L’Aviron

Campbelton, Nouveau-Brunswick

Le Havre

Chandler

Le Pharillon

Gaspé

L’Information Mont-Joli

Mont-Joli

Le Riverain

Ste-Anne-des-Monts

Le Sentinelle de Chibougamau

Chibougamau

Le Jamésien

Chibougamau

Brossard-éclair

Brossard

Le Journal de St-Hubert

St-Hubert

The Gleaner - La Source

Huntingdon

Sortir

Boucherville

Agri-Vallée

Valleyfield

L’Information d’Affaires Rive-Sud

Beloeil

La Voix

Sorel

La Voix de la Matanie

Matane

La Voix Gaspésienne

Matane

Le Courier du Fleuve

Rimouski

Le Journal des Pays d’en-Haut La Vallée

Saint Sauveur / Sainte-Adèle

Le Progrès Écho

Rimouski

Le Réveil

Saguenay

Le Rimouskois

Rimouski

VISION

Rimouski

L’Écho du Nord

St-Jérôme

L’Écho de St-Eustache

St-Eustache

L’Impact de Drummondville

Drummondville

Pub Extra

Laval-Laurentides

L’Écho de Victoriaville

Victoriaville

L’Écho de la Rive Nord

Ste-Thérèse

L’Écho de Laval

Laval

Le Journal de Magog

Magog

Le Point du Lac St-Jean

Lac St-Jean

Le Journal de Joliette

Joliette

L’Écho de Repentigny

Repentigny

L’Écho de Trois-Rivières

Trois-Rivières

L’Écho de Shawinigan

Shawinigan

L’Écho de St-Jean-sur-Richelieu

St-Jean-sur-Richelieu


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